Zacks: Analysts Anticipate Cabot Corp (CBT) Will Announce Quarterly Sales of $744.18 Million

Wall Street brokerages expect Cabot Corp (NYSE:CBT) to post $744.18 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Cabot’s earnings. The highest sales estimate is $765.84 million and the lowest is $714.48 million. Cabot posted sales of $678.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.8%. The business is expected to announce its next quarterly earnings results after the market closes on Monday, May 7th.

On average, analysts expect that Cabot will report full-year sales of $3.00 billion for the current year, with estimates ranging from $2.93 billion to $3.10 billion. For the next financial year, analysts expect that the company will post sales of $3.12 billion per share, with estimates ranging from $3.03 billion to $3.24 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Cabot.

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Cabot (NYSE:CBT) last announced its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.15. The firm had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $653.54 million. Cabot had a net margin of 2.30% and a return on equity of 15.01%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS.



Several analysts have recently issued reports on the stock. Robert W. Baird restated a “hold” rating and set a $67.00 target price on shares of Cabot in a research report on Tuesday, April 17th. Zacks Investment Research upgraded shares of Cabot from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 17th. SunTrust Banks upgraded shares of Cabot to a “buy” rating and set a $73.00 target price on the stock in a research report on Tuesday, January 16th. Loop Capital upgraded shares of Cabot from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Friday, January 5th. Finally, Northcoast Research set a $75.00 target price on shares of Cabot and gave the company a “buy” rating in a research report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Cabot currently has a consensus rating of “Hold” and a consensus price target of $71.57.

Institutional investors have recently bought and sold shares of the stock. Citizens Financial Group Inc RI purchased a new stake in Cabot in the 4th quarter worth about $142,000. Quadrature Capital Ltd purchased a new stake in Cabot in the 4th quarter worth about $219,000. State of Alaska Department of Revenue purchased a new stake in Cabot in the 4th quarter worth about $221,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cabot by 48.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock worth $226,000 after purchasing an additional 1,194 shares during the period. Finally, Signition LP purchased a new stake in Cabot in the 4th quarter worth about $229,000. 87.18% of the stock is currently owned by institutional investors.

Shares of NYSE CBT traded up $0.12 during mid-day trading on Thursday, hitting $56.84. 316,153 shares of the company’s stock traded hands, compared to its average volume of 378,029. The company has a current ratio of 1.63, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3,513.11, a price-to-earnings ratio of 16.15, a P/E/G ratio of 1.40 and a beta of 1.40. Cabot has a 1 year low of $50.21 and a 1 year high of $68.63.

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Cabot 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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Earnings History and Estimates for Cabot (NYSE:CBT)

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