SunTrust Banks Comments on Cabot Corporation’s Q4 2017 Earnings (CBT)
Cabot Corporation (NYSE:CBT) – Investment analysts at SunTrust Banks boosted their Q4 2017 earnings per share estimates for shares of Cabot Corporation in a note issued to investors on Sunday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will earn $0.94 per share for the quarter, up from their previous forecast of $0.93. SunTrust Banks has a “Buy” rating and a $56.00 price objective on the stock.
Cabot Corporation (NYSE:CBT) last posted its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.04. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The company had revenue of $705 million for the quarter, compared to analysts’ expectations of $664.16 million. During the same period in the previous year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up 13.5% on a year-over-year basis.
CBT has been the topic of several other reports. Zacks Investment Research lowered Cabot Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 5th. BidaskClub raised Cabot Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 16th. ValuEngine lowered Cabot Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Jefferies Group LLC set a $68.00 price objective on Cabot Corporation and gave the company a “buy” rating in a report on Thursday, June 8th. Finally, Aegis reissued a “hold” rating on shares of Cabot Corporation in a report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $59.67.
Cabot Corporation (NYSE CBT) opened at 52.53 on Tuesday. The stock’s 50 day moving average price is $53.88 and its 200-day moving average price is $55.84. The stock has a market capitalization of $3.27 billion, a PE ratio of 14.73 and a beta of 1.05. Cabot Corporation has a 52-week low of $47.99 and a 52-week high of $61.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Wednesday, August 23rd. Cabot Corporation’s payout ratio is currently 35.29%.
A number of hedge funds have recently modified their holdings of CBT. Tower Research Capital LLC TRC increased its position in Cabot Corporation by 344.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the specialty chemicals company’s stock valued at $146,000 after buying an additional 1,890 shares during the period. Integrated Investment Consultants LLC increased its position in Cabot Corporation by 66.1% in the second quarter. Integrated Investment Consultants LLC now owns 3,097 shares of the specialty chemicals company’s stock valued at $165,000 after buying an additional 1,233 shares during the period. Meeder Asset Management Inc. increased its position in Cabot Corporation by 123.1% in the first quarter. Meeder Asset Management Inc. now owns 2,892 shares of the specialty chemicals company’s stock valued at $173,000 after buying an additional 1,596 shares during the period. Timber Hill LLC purchased a new position in Cabot Corporation during the first quarter valued at $201,000. Finally, Oxford Asset Management purchased a new position in Cabot Corporation during the first quarter valued at $205,000. 85.65% of the stock is currently owned by institutional investors.
Cabot Corporation Company Profile
Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.
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