Brokerages expect Cabot Corp (NYSE:CBT) to post $864.60 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cabot’s earnings. The highest sales estimate is $901.00 million and the lowest is $817.49 million. Cabot reported sales of $854.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.2%. The firm is scheduled to announce its next earnings results on Monday, August 5th.
On average, analysts expect that Cabot will report full year sales of $3.40 billion for the current year, with estimates ranging from $3.34 billion to $3.48 billion. For the next year, analysts expect that the firm will report sales of $3.49 billion, with estimates ranging from $3.47 billion to $3.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Cabot.
Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Cabot had a net margin of 8.13% and a return on equity of 19.06%. The business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $868.00 million. During the same period last year, the business earned $1.04 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis.
Institutional investors have recently modified their holdings of the company. Lindbrook Capital LLC bought a new position in shares of Cabot in the fourth quarter worth approximately $28,000. Investors Research Corp bought a new position in shares of Cabot in the first quarter worth approximately $30,000. Twin Tree Management LP bought a new position in shares of Cabot in the first quarter worth approximately $30,000. Synovus Financial Corp bought a new position in shares of Cabot in the first quarter worth approximately $30,000. Finally, Private Capital Group LLC grew its holdings in shares of Cabot by 238.6% in the first quarter. Private Capital Group LLC now owns 799 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 563 shares during the last quarter. Hedge funds and other institutional investors own 86.46% of the company’s stock.
Shares of Cabot stock traded up $0.21 on Wednesday, hitting $45.70. The stock had a trading volume of 179,500 shares, compared to its average volume of 384,346. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 1.34. Cabot has a one year low of $39.57 and a one year high of $67.80. The firm has a market cap of $2.66 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.10 and a beta of 1.42. The firm has a 50-day moving average of $44.15.
The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.35 dividend. This is a boost from Cabot’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.06%. Cabot’s dividend payout ratio (DPR) is currently 34.74%.
Cabot Company Profile
Cabot Corporation operates as a specialty chemicals and performance materials company. 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 compounds of carbon black and rubber.
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