Cabot Corporation (CBT) Scheduled to Post Quarterly Earnings on Tuesday
Cabot Corporation (NYSE:CBT) is scheduled to announce its earnings results after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.91 per share for the quarter.
Cabot Corporation (NYSE:CBT) last announced its earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $705.00 million during the quarter, compared to analysts’ expectations of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. Cabot Corporation’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 earnings per share. On average, analysts expect Cabot Corporation to post $3.45 EPS for the current fiscal year and $3.77 EPS for the next fiscal year.
Cabot Corporation (NYSE CBT) opened at 58.36 on Tuesday. Cabot Corporation has a 52 week low of $47.99 and a 52 week high of $61.34. The stock has a market capitalization of $3.63 billion, a P/E ratio of 16.35 and a beta of 1.09. The stock has a 50 day moving average of $55.89 and a 200 day moving average of $54.44.
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In other news, insider Hobart Kalkstein sold 3,881 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.39, for a total value of $207,206.59. Following the sale, the insider now owns 27,736 shares in the company, valued at $1,480,825.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.
Several equities analysts have commented on the company. Loop Capital assumed coverage on Cabot Corporation in a report on Thursday, September 28th. They set a “hold” rating and a $59.00 price target on the stock. Zacks Investment Research upgraded Cabot Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. J P Morgan Chase & Co upgraded Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Tuesday, August 15th. BidaskClub downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, ValuEngine downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.29.
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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