Wall Street analysts expect Cabot Corporation (NYSE:CBT) to announce $641.01 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Cabot’s earnings, with the highest sales estimate coming in at $642.02 million and the lowest estimate coming in at $640.00 million. Cabot posted sales of $611.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The business is expected to issue its next earnings results on Wednesday, February 7th.

On average, analysts expect that Cabot will report full year sales of $641.01 million for the current year, with estimates ranging from $2.86 billion to $2.94 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.00 billion per share, with estimates ranging from $2.97 billion to $3.05 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Cabot.

Cabot (NYSE:CBT) last released its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). The firm had revenue of $723.00 million during the quarter, compared to analysts’ expectations of $683.30 million. Cabot had a return on equity of 15.11% and a net margin of 8.87%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 earnings per share.

Several research firms recently issued reports on CBT. Zacks Investment Research lowered shares of Cabot from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Jefferies Group reissued a “buy” rating and issued a $74.00 target price on shares of Cabot in a report on Friday, November 3rd. KeyCorp reissued a “hold” rating on shares of Cabot in a report on Wednesday, November 1st. Loop Capital began coverage on shares of Cabot in a report on Thursday, September 28th. They issued a “hold” rating and a $59.00 target price for the company. Finally, J P Morgan Chase & Co raised shares of Cabot from a “neutral” rating to an “overweight” rating and set a $57.00 target price for the company in a report on Tuesday, August 15th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cabot presently has a consensus rating of “Hold” and a consensus price target of $61.14.

In other Cabot news, insider Hobart Kalkstein sold 3,881 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.39, for a total value of $207,206.59. Following the completion of the transaction, the insider now directly owns 27,736 shares in the company, valued at approximately $1,480,825.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. AXA boosted its stake in Cabot by 21.5% in the 3rd quarter. AXA now owns 172,170 shares of the specialty chemicals company’s stock worth $9,607,000 after purchasing an additional 30,450 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Cabot by 51.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 93,931 shares of the specialty chemicals company’s stock worth $5,241,000 after purchasing an additional 32,110 shares during the period. FrontFour Capital Group LLC bought a new position in Cabot in the 3rd quarter worth approximately $824,000. California Public Employees Retirement System boosted its stake in Cabot by 4.4% in the 3rd quarter. California Public Employees Retirement System now owns 129,381 shares of the specialty chemicals company’s stock worth $7,219,000 after purchasing an additional 5,481 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Cabot in the 3rd quarter worth approximately $3,739,000. Institutional investors and hedge funds own 84.84% of the company’s stock.

Cabot (NYSE:CBT) traded down $0.73 during trading on Monday, reaching $60.51. 312,100 shares of the company traded hands, compared to its average volume of 339,643. The stock has a market cap of $3,748.57, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11. Cabot has a one year low of $50.21 and a one year high of $64.66. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.41.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a $0.315 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $1.26 annualized dividend and a yield of 2.08%. Cabot’s payout ratio is 33.07%.

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About Cabot

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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Earnings History and Estimates for Cabot (NYSE:CBT)

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