Cabot Corp (NYSE:CBT) – Investment analysts at SunTrust Banks boosted their Q1 2018 earnings per share estimates for shares of Cabot in a note issued to investors on Tuesday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will earn $0.75 per share for the quarter, up from their previous forecast of $0.74. SunTrust Banks has a “Buy” rating and a $73.00 price objective on the stock. SunTrust Banks also issued estimates for Cabot’s Q2 2018 earnings at $1.01 EPS, Q3 2018 earnings at $1.08 EPS, Q4 2018 earnings at $1.09 EPS, FY2018 earnings at $3.93 EPS and FY2019 earnings at $4.34 EPS.
A number of other brokerages also recently issued reports on CBT. Zacks Investment Research cut Cabot from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Loop Capital upgraded Cabot from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Friday, January 5th. Jefferies Group restated a “buy” rating and issued a $74.00 price target on shares of Cabot in a report on Friday, November 3rd. ValuEngine upgraded Cabot from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, KeyCorp restated a “hold” rating on shares of Cabot in a report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $68.17.
Cabot (NYSE:CBT) last announced its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The firm had revenue of $723.00 million during the quarter, compared to analyst estimates of $683.30 million. Cabot had a net margin of 8.87% and a return on equity of 15.11%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Cabot by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,118 shares of the specialty chemicals company’s stock valued at $487,000 after purchasing an additional 33 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cabot by 9.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock valued at $132,000 after purchasing an additional 209 shares during the period. Ameritas Investment Partners Inc. raised its position in Cabot by 2.0% in the second quarter. Ameritas Investment Partners Inc. now owns 18,696 shares of the specialty chemicals company’s stock valued at $999,000 after purchasing an additional 363 shares during the period. Gratus Capital LLC raised its position in Cabot by 9.9% in the third quarter. Gratus Capital LLC now owns 8,853 shares of the specialty chemicals company’s stock valued at $494,000 after purchasing an additional 800 shares during the period. Finally, Pacer Advisors Inc. raised its position in Cabot by 11.5% in the third quarter. Pacer Advisors Inc. now owns 9,232 shares of the specialty chemicals company’s stock valued at $515,000 after purchasing an additional 950 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, February 22nd. Cabot’s dividend payout ratio (DPR) is 33.07%.
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.
Receive News & Ratings for Cabot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot and related companies with MarketBeat.com's FREE daily email newsletter.