Cabot Corporation to Post FY2017 Earnings of $3.45 Per Share, SunTrust Banks Forecasts (NYSE:CBT)

Cabot Corporation (NYSE:CBT) – Stock analysts at SunTrust Banks reduced their FY2017 earnings per share (EPS) estimates for shares of Cabot Corporation in a report issued on Sunday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will earn $3.45 per share for the year, down from their prior forecast of $3.48. SunTrust Banks has a “Buy” rating and a $56.00 price objective on the stock. SunTrust Banks also issued estimates for Cabot Corporation’s FY2018 earnings at $3.70 EPS and FY2019 earnings at $3.98 EPS.

Cabot Corporation (NYSE:CBT) last posted its quarterly earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by $0.04. Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. The business had revenue of $705 million for the quarter, compared to analyst estimates of $664.16 million. During the same period last year, the firm posted $0.93 EPS. Cabot Corporation’s quarterly revenue was up 13.5% on a year-over-year basis.

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CBT has been the subject of several other research reports. Aegis reissued a “hold” rating on shares of Cabot Corporation in a research note on Wednesday, May 31st. Zacks Investment Research lowered Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Jefferies Group LLC reissued a “buy” rating and set a $68.00 price objective on shares of Cabot Corporation in a research note on Tuesday, May 2nd. BidaskClub raised Cabot Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Finally, ValuEngine lowered Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Cabot Corporation has an average rating of “Hold” and a consensus target price of $59.67.

Cabot Corporation (NYSE:CBT) opened at 52.27 on Wednesday. Cabot Corporation has a 12-month low of $47.99 and a 12-month high of $61.34. The stock’s 50 day moving average price is $53.74 and its 200-day moving average price is $55.77. The firm has a market cap of $3.25 billion, a PE ratio of 14.66 and a beta of 1.05.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $0.315 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $1.26 dividend on an annualized basis and a yield of 2.41%. Cabot Corporation’s payout ratio is 35.29%.

A number of large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cabot Corporation by 9.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after buying an additional 209 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Cabot Corporation by 344.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the specialty chemicals company’s stock worth $146,000 after buying an additional 1,890 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Cabot Corporation by 66.1% in the second quarter. Integrated Investment Consultants LLC now owns 3,097 shares of the specialty chemicals company’s stock worth $165,000 after buying an additional 1,233 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Cabot Corporation by 123.1% in the first quarter. Meeder Asset Management Inc. now owns 2,892 shares of the specialty chemicals company’s stock worth $173,000 after buying an additional 1,596 shares during the last quarter. Finally, Timber Hill LLC purchased a new stake in Cabot Corporation during the first quarter worth $201,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

About Cabot Corporation

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

Earnings History and Estimates for Cabot Corporation (NYSE:CBT)

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