Cabot Corp (CBT) Expected to Announce Earnings of $0.89 Per Share

Wall Street brokerages expect Cabot Corp (NYSE:CBT) to post earnings per share of $0.89 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Cabot’s earnings, with the lowest EPS estimate coming in at $0.79 and the highest estimate coming in at $1.02. Cabot posted earnings per share of $0.93 in the same quarter last year, which would suggest a negative year over year growth rate of 4.3%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Cabot will report full year earnings of $4.59 per share for the current financial year, with EPS estimates ranging from $4.40 to $4.85. For the next year, analysts anticipate that the firm will report earnings of $5.20 per share, with EPS estimates ranging from $5.00 to $5.60. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Cabot.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, November 5th. The specialty chemicals company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.09). Cabot had a negative net margin of 3.49% and a positive return on equity of 18.82%. The firm had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $856.76 million. During the same period in the prior year, the firm earned $0.91 EPS. Cabot’s revenue for the quarter was up 17.6% compared to the same quarter last year.

Several brokerages have weighed in on CBT. ValuEngine raised shares of Cabot from a “strong sell” rating to a “sell” rating in a report on Friday, November 16th. Northcoast Research set a $75.00 price target on shares of Cabot and gave the company a “buy” rating in a report on Wednesday, November 7th. Loop Capital set a $82.00 price target on shares of Cabot and gave the company a “buy” rating in a report on Tuesday, November 6th. TheStreet downgraded shares of Cabot from a “b” rating to a “c+” rating in a report on Friday, October 19th. Finally, Zacks Investment Research downgraded shares of Cabot from a “buy” rating to a “sell” rating in a report on Tuesday, October 16th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Cabot currently has a consensus rating of “Buy” and an average target price of $75.00.

Shares of NYSE:CBT opened at $47.31 on Thursday. The company has a current ratio of 1.46, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56. Cabot has a 1-year low of $45.88 and a 1-year high of $68.63. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.98 and a beta of 1.50.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, November 29th. Cabot’s payout ratio is currently 32.75%.

Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in shares of Cabot by 575.7% during the third quarter. Bessemer Group Inc. now owns 2,034 shares of the specialty chemicals company’s stock valued at $128,000 after buying an additional 1,733 shares during the last quarter. Signition LP bought a new stake in shares of Cabot during the second quarter valued at approximately $234,000. Advisory Services Network LLC raised its position in shares of Cabot by 943.5% during the second quarter. Advisory Services Network LLC now owns 3,882 shares of the specialty chemicals company’s stock valued at $255,000 after buying an additional 3,510 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Cabot during the third quarter valued at approximately $272,000. Finally, Gideon Capital Advisors Inc. bought a new stake in shares of Cabot during the third quarter valued at approximately $343,000. Hedge funds and other institutional investors own 85.40% of the company’s stock.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods.

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