Cabot Co. (NYSE:CBT) – Stock analysts at Jefferies Financial Group reduced their FY2021 EPS estimates for shares of Cabot in a research report issued on Tuesday, September 14th. Jefferies Financial Group analyst L. Alexander now expects that the specialty chemicals company will post earnings per share of $4.90 for the year, down from their previous estimate of $4.95. Jefferies Financial Group has a “Buy” rating and a $75.00 price objective on the stock. Jefferies Financial Group also issued estimates for Cabot’s Q4 2021 earnings at $0.98 EPS, Q1 2022 earnings at $1.50 EPS, Q2 2022 earnings at $1.47 EPS, Q3 2022 earnings at $1.58 EPS and Q4 2022 earnings at $1.15 EPS.
A number of other research analysts have also recently weighed in on the company. TheStreet cut Cabot from a “b-” rating to a “c+” rating in a research report on Tuesday, July 20th. Loop Capital upgraded Cabot from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Thursday, July 1st. Finally, JPMorgan Chase & Co. upgraded Cabot from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a research report on Friday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $72.33.
Cabot (NYSE:CBT) last released its quarterly earnings data on Sunday, August 8th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.17. Cabot had a positive return on equity of 27.56% and a negative net margin of 1.61%. The firm had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $804.70 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Cabot’s revenue was up 77.0% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBT. Hillsdale Investment Management Inc. acquired a new position in Cabot during the 2nd quarter worth approximately $1,070,000. Value Holdings Management CO. LLC lifted its position in Cabot by 57.9% during the 1st quarter. Value Holdings Management CO. LLC now owns 46,380 shares of the specialty chemicals company’s stock worth $2,432,000 after acquiring an additional 17,000 shares in the last quarter. Bank of Nova Scotia lifted its position in Cabot by 238.8% during the 1st quarter. Bank of Nova Scotia now owns 61,000 shares of the specialty chemicals company’s stock worth $3,199,000 after acquiring an additional 42,996 shares in the last quarter. Waddell & Reed Financial Inc. lifted its position in Cabot by 25.2% during the 1st quarter. Waddell & Reed Financial Inc. now owns 440,237 shares of the specialty chemicals company’s stock worth $23,086,000 after acquiring an additional 88,607 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Cabot by 1.1% during the 1st quarter. Franklin Resources Inc. now owns 1,991,490 shares of the specialty chemicals company’s stock worth $104,434,000 after acquiring an additional 21,758 shares in the last quarter. 90.44% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 27th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Thursday, August 26th. Cabot’s dividend payout ratio is currently 67.31%.
Cabot Company Profile
Cabot Corp. is a global specialty chemicals and performance materials company. Its products are rubber and specialty grade carbon blacks, specialty compounds, fumed metal oxides, activated carbons, inkjet colorants, and aerogel. The company operates through the following segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions.
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