Cabot (NYSE:CBT) posted its quarterly earnings results on Sunday. The specialty chemicals company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.41, MarketWatch Earnings reports. Cabot had a negative net margin of 9.10% and a positive return on equity of 11.67%. The company had revenue of $842.00 million during the quarter, compared to analyst estimates of $771.05 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis.
NYSE:CBT traded up $1.33 during midday trading on Tuesday, hitting $57.42. 5,611 shares of the company traded hands, compared to its average volume of 292,790. The firm’s fifty day moving average is $53.63 and its 200-day moving average is $47.19. The firm has a market capitalization of $3.25 billion, a P/E ratio of -13.63 and a beta of 1.60. The company has a current ratio of 1.85, a quick ratio of 1.17 and a debt-to-equity ratio of 1.34. Cabot has a 12-month low of $26.95 and a 12-month high of $57.44.
A number of research analysts have commented on CBT shares. Zacks Investment Research cut shares of Cabot from a “strong-buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a research report on Tuesday, April 6th. Barclays raised their price objective on Cabot from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $63.00.
Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers rubber grade carbon blacks used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites.
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