Analysts expect that Cabot Co. (NYSE:CBT) will report $786.61 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Cabot’s earnings, with the highest sales estimate coming in at $840.57 million and the lowest estimate coming in at $732.65 million. Cabot reported sales of $518.00 million in the same quarter last year, which indicates a positive year over year growth rate of 51.9%. The company is scheduled to announce its next earnings report on Thursday, August 5th.
On average, analysts expect that Cabot will report full-year sales of $3.04 billion for the current financial year, with estimates ranging from $2.91 billion to $3.28 billion. For the next year, analysts expect that the firm will post sales of $3.18 billion, with estimates ranging from $3.02 billion to $3.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Cabot.
Cabot (NYSE:CBT) last issued its earnings results on Sunday, May 2nd. The specialty chemicals company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.41. Cabot had a positive return on equity of 19.21% and a negative net margin of 5.17%. The firm 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 earnings per share. Cabot’s revenue for the quarter was up 18.6% on a year-over-year basis.
Shares of CBT stock traded up $0.25 during trading hours on Tuesday, hitting $62.56. The company’s stock had a trading volume of 1,547 shares, compared to its average volume of 311,738. The stock has a market cap of $3.54 billion, a PE ratio of -24.30 and a beta of 1.67. Cabot has a 12-month low of $34.81 and a 12-month high of $65.25. The stock has a 50 day simple moving average of $58.97. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 1.89.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 11th. Shareholders of record on Friday, May 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, May 27th. Cabot’s payout ratio is currently 67.31%.
In related news, SVP Karen A. Kalita sold 10,757 shares of Cabot stock in a transaction on Monday, May 10th. The shares were sold at an average price of $62.84, for a total value of $675,969.88. Following the sale, the senior vice president now owns 21,687 shares of the company’s stock, valued at approximately $1,362,811.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.78% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CBT. Norges Bank purchased a new position in shares of Cabot in the fourth quarter valued at approximately $36,615,000. Earnest Partners LLC raised its stake in 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 purchasing an additional 259,127 shares during the last quarter. Bank of Montreal Can lifted its holdings in Cabot by 3,738.3% in the 1st quarter. Bank of Montreal Can now owns 257,281 shares of the specialty chemicals company’s stock valued at $13,600,000 after purchasing an additional 250,578 shares in the last quarter. Morgan Stanley boosted its stake in Cabot by 151.5% during the 4th quarter. Morgan Stanley now owns 309,022 shares of the specialty chemicals company’s stock worth $13,869,000 after purchasing an additional 186,156 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Cabot by 3.9% during the first quarter. BlackRock Inc. now owns 4,940,273 shares of the specialty chemicals company’s stock worth $259,068,000 after buying an additional 183,682 shares in the last quarter. Institutional investors own 87.03% 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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