Cabot (NYSE:CBT) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Cabot (NYSE:CBT) posted its quarterly earnings results on Monday. The specialty chemicals company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06, FiscalAI reports. Cabot had a net margin of 5.23% and a return on equity of 20.29%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $927.29 million.

Cabot Stock Up 1.6%

Shares of CBT traded up $1.22 during trading hours on Monday, reaching $75.64. The stock had a trading volume of 616,969 shares, compared to its average volume of 455,251. The firm has a 50-day simple moving average of $77.98 and a 200 day simple moving average of $79.50. Cabot has a 12 month low of $58.33 and a 12 month high of $94.53. The company has a current ratio of 1.47, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 8.76 and a beta of 0.83.

Insider Buying and Selling

In other Cabot news, CEO Sean Keohane sold 134,895 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $85.00, for a total transaction of $11,466,075.00. Following the completion of the sale, the chief executive officer owned 404,134 shares in the company, valued at approximately $34,351,390. The trade was a 25.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 229,597 shares of company stock worth $19,646,746. Insiders own 3.08% of the company’s stock.

Analyst Ratings Changes

CBT has been the topic of several research reports. Wall Street Zen upgraded shares of Cabot from a “hold” rating to a “buy” rating in a report on Sunday, October 11th. JPMorgan Chase & Co. raised their target price on Cabot from $70.00 to $78.00 and gave the company an “underweight” rating in a research note on Friday, August 7th. Truist Financial set a $100.00 target price on Cabot in a research note on Wednesday, August 5th. UBS Group decreased their target price on Cabot from $92.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cabot in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $87.80.

Cabot Company Profile

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company develops and manufactures materials used to improve the performance, durability, conductivity, color and purity of products across a range of industries.

Cabot’s products include carbon black used in tires, rubber goods, coatings, plastics and printing inks; specialty carbons and conductive materials for batteries and other applications; and specialty compounds and masterbatches.