FY2017 EPS Estimates for Cabot Corporation Decreased by Analyst (CBT)
Cabot Corporation (NYSE:CBT) – Research analysts at Northcoast Research reduced their FY2017 earnings per share (EPS) estimates for Cabot Corporation in a report issued on Thursday. Northcoast Research analyst K. Hocevar now anticipates that the specialty chemicals company will post earnings of $3.45 per share for the year, down from their prior forecast of $3.50. Northcoast Research has a “Buy” rating and a $63.00 price objective on the stock.
Cabot Corporation (NYSE:CBT) last posted its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.04. The firm had revenue of $705 million during the quarter, compared to analysts’ expectations of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS.
Several other brokerages also recently weighed in on CBT. SunTrust Banks, Inc. started coverage on shares of Cabot Corporation in a research note on Tuesday, April 18th. They issued a “buy” rating and a $56.00 target price on the stock. Zacks Investment Research cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. ValuEngine cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub upgraded shares of Cabot Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Jefferies Group LLC set a $68.00 price target on shares of Cabot Corporation and gave the company a “buy” rating in a report on Thursday, June 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $59.67.
Shares of Cabot Corporation (CBT) traded down 0.8274% during trading on Monday, reaching $51.8375. 35,512 shares of the company were exchanged. The stock’s 50 day moving average is $53.74 and its 200 day moving average is $55.77. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 14.5366 and a beta of 1.05. Cabot Corporation has a 1-year low of $47.99 and a 1-year high of $61.34.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.26 annualized dividend and a yield of 2.41%. Cabot Corporation’s dividend payout ratio (DPR) is presently 35.29%.
A number of large investors have recently made changes to their positions in CBT. Tower Research Capital LLC TRC boosted its position in shares of 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 valued at $146,000 after buying an additional 1,890 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cabot Corporation by 9.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock valued at $132,000 after buying an additional 209 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of 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 valued at $173,000 after buying an additional 1,596 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in shares of 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 valued at $165,000 after buying an additional 1,233 shares during the last quarter. Finally, Timber Hill LLC purchased a new position in shares of Cabot Corporation during the first quarter valued at $201,000. 85.65% of the stock is currently owned by institutional investors.
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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