Equities research analysts predict that Cabot Co. (NYSE:CBT) will announce $843.56 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cabot’s earnings. The lowest sales estimate is $840.57 million and the highest is $846.55 million. Cabot reported sales of $518.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 62.8%. The company is expected to announce its next quarterly earnings report after the market closes on Monday, August 9th.
According to Zacks, analysts expect that Cabot will report full year sales of $3.14 billion for the current financial year, with estimates ranging from $2.91 billion to $3.28 billion. For the next financial year, analysts forecast that the business will post sales of $3.29 billion, with estimates ranging from $3.07 billion to $3.45 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Cabot.
Cabot (NYSE:CBT) last posted its earnings results on Sunday, May 2nd. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.41. Cabot had a negative net margin of 5.17% and a positive return on equity of 19.21%. The business had revenue of $842.00 million for the quarter, compared to analyst estimates of $771.05 million. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year.
Shares of CBT traded down $1.01 during trading hours on Monday, hitting $51.40. The stock had a trading volume of 6,026 shares, compared to its average volume of 731,984. The company’s fifty day moving average price is $59.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.89 and a quick ratio of 1.22. Cabot has a 52 week low of $34.84 and a 52 week high of $65.25. The stock has a market capitalization of $2.91 billion, a PE ratio of -20.00 and a beta of 1.66.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Friday, August 27th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 26th. This represents a $1.40 dividend on an annualized basis and a yield of 2.72%. Cabot’s payout ratio is presently 67.31%.
In other Cabot news, SVP Karen A. Kalita sold 10,757 shares of the company’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $62.84, for a total transaction of $675,969.88. Following the transaction, the senior vice president now directly owns 21,687 shares in the company, valued at approximately $1,362,811.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.78% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. New Mexico Educational Retirement Board raised its position in shares of Cabot by 18.2% in the 2nd quarter. New Mexico Educational Retirement Board now owns 11,700 shares of the specialty chemicals company’s stock valued at $666,000 after acquiring an additional 1,800 shares during the period. Kingsview Wealth Management LLC acquired a new stake in shares of Cabot in the 1st quarter valued at approximately $771,000. Squarepoint Ops LLC raised its position in shares of Cabot by 52.1% in the 1st quarter. Squarepoint Ops LLC now owns 31,714 shares of the specialty chemicals company’s stock valued at $1,663,000 after acquiring an additional 10,858 shares during the period. Earnest Partners LLC raised its position in shares of Cabot by 9.4% in the 1st quarter. Earnest Partners LLC now owns 3,024,455 shares of the specialty chemicals company’s stock valued at $158,602,000 after acquiring an additional 259,127 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in shares of Cabot in the 1st quarter valued at approximately $488,000. Institutional investors and hedge funds own 86.76% of the company’s stock.
Cabot Company Profile
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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