Cabot Corp (NYSE:CBT) – Analysts at SunTrust Banks decreased their Q3 2018 earnings per share estimates for Cabot in a report issued on Wednesday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will earn $1.02 per share for the quarter, down from their previous forecast of $1.08. SunTrust Banks currently has a “Buy” rating and a $73.00 target price on the stock.
Cabot (NYSE:CBT) last issued its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.15. The company had revenue of $720.00 million during the quarter, compared to the consensus estimate of $653.54 million. Cabot had a net margin of 2.30% and a return on equity of 15.01%. Cabot’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS.
Cabot (NYSE CBT) opened at $62.15 on Monday. The firm has a market cap of $3,841.31, a price-to-earnings ratio of 63.42, a P/E/G ratio of 1.59 and a beta of 1.25. The company has a quick ratio of 1.17, a current ratio of 1.63 and a debt-to-equity ratio of 0.43. Cabot has a 1-year low of $50.21 and a 1-year high of $68.63.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, February 22nd. Cabot’s payout ratio is currently 128.57%.
A number of hedge funds have recently made changes to their positions in CBT. Citizens Financial Group Inc RI purchased a new stake in Cabot in the 4th quarter worth $142,000. Parametrica Management Ltd purchased a new stake in Cabot in the 3rd quarter worth $217,000. Virginia Retirement Systems ET AL purchased a new stake in Cabot in the 3rd quarter worth $218,000. State of Alaska Department of Revenue purchased a new stake in Cabot in the 4th quarter worth $221,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cabot by 48.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock worth $226,000 after purchasing an additional 1,194 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.
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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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