Cabot Corporation (NYSE:CBT) - Research analysts at Jefferies Group lowered their Q3 2017 earnings estimates for shares of Cabot Corporation in a report released on Tuesday. Jefferies Group analyst L. Alexander now forecasts that the specialty chemicals company will post earnings per share of $0.82 for the quarter, down from their prior estimate of $0.84. Jefferies Group currently has a “Buy” rating and a $68.00 target price on the stock. Jefferies Group also issued estimates for Cabot Corporation’s Q4 2017 earnings at $0.92 EPS.
Cabot Corporation (NYSE:CBT) last released its quarterly earnings data on Monday, May 1st. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cabot Corporation had a net margin of 9.33% and a return on equity of 16.83%. The company had revenue of $678 million during the quarter, compared to the consensus estimate of $637.57 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Cabot Corporation’s revenue for the quarter was up 19.4% on a year-over-year basis.
Several other research firms have also commented on CBT. Zacks Investment Research raised shares of Cabot Corporation from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Friday, April 28th. Northcoast Research raised shares of Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a report on Wednesday, May 24th. SunTrust Banks, Inc. initiated coverage on shares of Cabot Corporation in a research note on Tuesday, April 18th. They set a “buy” rating and a $56.00 target price for the company. BidaskClub raised shares of Cabot Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Finally, Aegis reissued a “hold” rating on shares of Cabot Corporation in a research note on Wednesday, May 31st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $59.67.
Cabot Corporation (NYSE:CBT) opened at 54.47 on Thursday. The firm has a 50-day moving average of $53.82 and a 200 day moving average of $55.77. Cabot Corporation has a 1-year low of $46.88 and a 1-year high of $61.34. The firm has a market cap of $3.40 billion, a P/E ratio of 14.58 and a beta of 1.05.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.31%. Cabot Corporation’s payout ratio is currently 33.69%.
Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Cabot Corporation by 344.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the specialty chemicals company’s stock worth $146,000 after buying an additional 1,890 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Cabot Corporation by 66.1% in the second quarter. Integrated Investment Consultants LLC now owns 3,097 shares of the specialty chemicals company’s stock worth $165,000 after buying an additional 1,233 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Cabot Corporation by 123.1% in the first quarter. Meeder Asset Management Inc. now owns 2,892 shares of the specialty chemicals company’s stock worth $173,000 after buying an additional 1,596 shares during the last quarter. Timber Hill LLC acquired a new stake in Cabot Corporation during the first quarter worth approximately $201,000. Finally, Oxford Asset Management acquired a new stake in Cabot Corporation during the first quarter worth approximately $205,000. Institutional investors and hedge funds own 85.45% of the company’s stock.
Cabot Corporation Company Profile
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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