Cabot (NYSE:CBT – Get Free Report) released its quarterly earnings data on Monday. The specialty chemicals company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20, Briefing.com reports. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. Cabot’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 EPS. Cabot updated its FY24 guidance to $7.00-$7.10 EPS.
Cabot Stock Performance
Shares of CBT stock opened at $101.20 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72. Cabot has a 52 week low of $64.51 and a 52 week high of $103.49. The stock has a market capitalization of $5.59 billion, a PE ratio of 12.81, a P/E/G ratio of 0.96 and a beta of 1.20. The firm has a 50 day moving average of $95.95 and a two-hundred day moving average of $91.47.
Cabot Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.43 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 1.70%. Cabot’s dividend payout ratio is presently 21.77%.
Analysts Set New Price Targets
Check Out Our Latest Research Report on Cabot
Insider Buying and Selling at Cabot
In other Cabot news, SVP Karen A. Kalita sold 13,764 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $101.73, for a total value of $1,400,211.72. Following the completion of the transaction, the senior vice president now owns 34,312 shares of the company’s stock, valued at approximately $3,490,559.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.07% of the stock is currently owned by corporate insiders.
About Cabot
Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 solutions.
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