Cabot (NYSE:CBT) issued its earnings results on Sunday. The specialty chemicals company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.41, MarketWatch Earnings reports. The business had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $771.05 million. Cabot had a positive return on equity of 11.67% and a negative net margin of 9.10%. Cabot’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share.
NYSE:CBT traded up $1.33 during mid-day trading on Tuesday, reaching $57.42. The stock had a trading volume of 5,611 shares, compared to its average volume of 292,790. The stock has a market cap of $3.25 billion, a P/E ratio of -13.63 and a beta of 1.60. The business’s 50 day moving average is $53.63 and its 200 day moving average is $47.19. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.85 and a quick ratio of 1.17. Cabot has a fifty-two week low of $26.95 and a fifty-two week high of $57.44.
CBT has been the subject of a number of research reports. Barclays raised their price objective on Cabot from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 3rd. Zacks Investment Research downgraded shares of Cabot from a “strong-buy” rating to a “hold” rating and set a $56.00 price objective on the stock. in a research report on Tuesday, April 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $63.00.
Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers rubber grade carbon blacks 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.
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