Cabot Corp (NYSE:CBT) – Northcoast Research boosted their Q2 2018 earnings per share estimates for Cabot in a research report issued on Monday. Northcoast Research analyst K. Hocevar now forecasts that the specialty chemicals company will post earnings per share of $1.02 for the quarter, up from their prior estimate of $1.00. Northcoast Research has a “Buy” rating and a $75.00 price objective on the stock. Northcoast Research also issued estimates for Cabot’s Q3 2018 earnings at $1.06 EPS, Q4 2018 earnings at $1.14 EPS, FY2018 earnings at $4.15 EPS and FY2019 earnings at $4.65 EPS.
Several other equities research analysts have also recently commented on the company. Loop Capital raised Cabot from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Friday, January 5th. Zacks Investment Research cut Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Jefferies Group reaffirmed a “buy” rating and set a $74.00 target price on shares of Cabot in a research note on Friday, November 3rd. KeyCorp reaffirmed a “hold” rating on shares of Cabot in a research note on Wednesday, November 1st. Finally, SunTrust Banks raised Cabot to a “buy” rating and set a $73.00 target price for the company in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Cabot has a consensus rating of “Buy” and a consensus target price of $72.33.
Cabot (NYSE:CBT) last released its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.78 by $0.15. Cabot had a return on equity of 15.01% and a net margin of 2.30%. The business had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $653.54 million. During the same quarter last year, the firm posted $0.84 earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis.
The company also recently disclosed 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. The ex-dividend date is Thursday, February 22nd. This represents a $1.26 dividend on an annualized basis and a yield of 1.99%. Cabot’s dividend payout ratio (DPR) is presently 128.57%.
Institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System grew its stake in Cabot by 4.4% in the third quarter. California Public Employees Retirement System now owns 129,381 shares of the specialty chemicals company’s stock valued at $7,219,000 after acquiring an additional 5,481 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Cabot in the third quarter valued at approximately $330,000. New York State Common Retirement Fund grew its stake in Cabot by 2.5% in the third quarter. New York State Common Retirement Fund now owns 454,431 shares of the specialty chemicals company’s stock valued at $25,357,000 after acquiring an additional 10,988 shares during the period. State Street Corp grew its stake in Cabot by 5.1% in the second quarter. State Street Corp now owns 1,751,827 shares of the specialty chemicals company’s stock valued at $93,598,000 after acquiring an additional 84,905 shares during the period. Finally, Boston Partners grew its stake in Cabot by 2.3% in the third quarter. Boston Partners now owns 218,116 shares of the specialty chemicals company’s stock valued at $12,171,000 after acquiring an additional 4,832 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.
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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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