Cabot Corp (NYSE:CBT) – Analysts at Jefferies Group lifted their FY2019 earnings estimates for Cabot in a research report issued to clients and investors on Thursday. Jefferies Group analyst L. Alexander now expects that the specialty chemicals company will earn $4.50 per share for the year, up from their previous estimate of $4.05. Jefferies Group has a “Buy” rating and a $78.00 price objective on the stock. Jefferies Group also issued estimates for Cabot’s FY2020 earnings at $4.95 EPS and FY2021 earnings at $5.40 EPS.
Cabot (NYSE:CBT) last announced its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.15. Cabot had a net margin of 2.30% and a return on equity of 15.01%. The firm had revenue of $720.00 million during the quarter, compared to analyst estimates of $653.54 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Cabot’s quarterly revenue was up 17.8% on a year-over-year basis.
Shares of Cabot (NYSE:CBT) opened at $62.15 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.63 and a quick ratio of 1.02. Cabot has a 1-year low of $50.21 and a 1-year high of $68.63. The stock has a market cap of $3,841.31, a PE ratio of 63.42, a P/E/G ratio of 1.55 and a beta of 1.25.
Institutional investors and hedge funds have recently modified their holdings of the company. California Public Employees Retirement System lifted its position in shares of Cabot by 4.4% during the third 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 in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Cabot during the third quarter worth about $330,000. New York State Common Retirement Fund lifted its position in shares of Cabot by 2.5% during the third quarter. New York State Common Retirement Fund now owns 454,431 shares of the specialty chemicals company’s stock worth $25,357,000 after purchasing an additional 10,988 shares in the last quarter. State Street Corp lifted its position in shares of Cabot by 5.1% during the second quarter. State Street Corp now owns 1,751,827 shares of the specialty chemicals company’s stock worth $93,598,000 after purchasing an additional 84,905 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Cabot by 2.3% during the third quarter. Boston Partners now owns 218,116 shares of the specialty chemicals company’s stock worth $12,171,000 after purchasing an additional 4,832 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.315 per share. The ex-dividend date is Thursday, February 22nd. This represents a $1.26 annualized dividend and a dividend yield of 2.03%. Cabot’s dividend payout ratio is presently 128.57%.
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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