Cabot Corporation (CBT) Receives Consensus Rating of “Buy” from Analysts
Cabot Corporation (NYSE:CBT) has earned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $61.00.
Several equities analysts have commented on CBT shares. Northcoast Research upgraded shares of Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Wednesday, May 24th. BidaskClub upgraded shares of Cabot Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded shares of Cabot Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday, July 11th. Jefferies Group LLC set a $68.00 price target on shares of Cabot Corporation and gave the stock a “buy” rating in a research note on Thursday, June 8th. Finally, Aegis restated a “hold” rating on shares of Cabot Corporation in a research note on Wednesday, May 31st.
Several hedge funds have recently modified their holdings of CBT. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cabot Corporation by 9.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 209 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Cabot Corporation by 344.9% during the first quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 1,890 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Cabot Corporation during the second quarter worth $155,000. Integrated Investment Consultants LLC grew its stake in shares of Cabot Corporation by 66.1% during the second quarter. Integrated Investment Consultants LLC now owns 3,097 shares of the specialty chemicals company’s stock worth $165,000 after purchasing an additional 1,233 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of Cabot Corporation by 123.1% during the first quarter. Meeder Asset Management Inc. now owns 2,892 shares of the specialty chemicals company’s stock worth $173,000 after purchasing an additional 1,596 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.
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Cabot Corporation (NYSE:CBT) traded down 0.09% during mid-day trading on Friday, reaching $53.30. The company’s stock had a trading volume of 342,090 shares. The company’s 50-day moving average price is $52.55 and its 200 day moving average price is $54.85. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 14.93 and a beta of 1.09. Cabot Corporation has a 52 week low of $47.99 and a 52 week high of $61.34.
Cabot Corporation (NYSE:CBT) last posted its quarterly earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $664.16 million. Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. On average, equities analysts forecast that Cabot Corporation will post $3.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were paid a dividend of $0.315 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.36%. Cabot Corporation’s payout ratio is currently 35.29%.
About Cabot Corporation
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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