Cabot Corp (NYSE:CBT) – Stock analysts at SunTrust Banks increased their Q2 2018 earnings per share estimates for Cabot in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst J. Sheehan now expects that the specialty chemicals company will post earnings per share of $1.00 for the quarter, up from their prior forecast of $0.98. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Cabot’s Q3 2018 earnings at $1.06 EPS, Q4 2018 earnings at $1.08 EPS, FY2018 earnings at $3.87 EPS and FY2019 earnings at $4.27 EPS.
A number of other research analysts have also weighed in on CBT. Loop Capital began coverage on Cabot in a report on Thursday, September 28th. They set a “hold” rating and a $59.00 target price on the stock. Jefferies Group reissued a “buy” rating and set a $74.00 target price on shares of Cabot in a report on Friday, November 3rd. KeyCorp reissued a “hold” rating on shares of Cabot in a report on Wednesday, November 1st. Finally, Zacks Investment Research lowered Cabot from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Cabot presently has an average rating of “Hold” and a consensus target price of $61.14.
Cabot (NYSE:CBT) last posted its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $723.00 million for the quarter, compared to analyst estimates of $683.30 million. Cabot had a return on equity of 15.11% and a net margin of 8.87%. The firm’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, November 22nd. Cabot’s dividend payout ratio is 33.07%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cabot by 9.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock valued at $132,000 after buying an additional 209 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in Cabot in the 2nd quarter valued at $155,000. Parametrica Management Ltd acquired a new position in Cabot in the 3rd quarter valued at $217,000. Virginia Retirement Systems ET AL acquired a new position in Cabot in the 3rd quarter valued at $218,000. Finally, Quantbot Technologies LP grew its holdings in Cabot by 244.4% in the 2nd quarter. Quantbot Technologies LP now owns 4,643 shares of the specialty chemicals company’s stock valued at $248,000 after buying an additional 3,295 shares in the last quarter. 84.83% of the stock is currently owned by hedge funds and other institutional investors.
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Cabot Company Profile
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.
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