Zacks: Analysts Anticipate Cabot Corp (CBT) Will Announce Quarterly Sales of $778.39 Million

Equities analysts expect Cabot Corp (NYSE:CBT) to post $778.39 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Cabot’s earnings, with the highest sales estimate coming in at $780.00 million and the lowest estimate coming in at $776.77 million. Cabot reported sales of $720.00 million during the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The company is expected to issue its next earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that Cabot will report full year sales of $3.45 billion for the current financial year, with estimates ranging from $3.37 billion to $3.48 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.60 billion, with estimates ranging from $3.51 billion to $3.69 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Cabot.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, November 5th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.09). Cabot had a negative net margin of 3.49% and a positive return on equity of 18.82%. The company had revenue of $850.00 million during the quarter, compared to analyst estimates of $856.76 million. During the same quarter in the prior year, the company earned $0.91 EPS. The business’s revenue was up 17.6% on a year-over-year basis.

Several brokerages have recently weighed in on CBT. ValuEngine upgraded shares of Cabot from a “strong sell” rating to a “sell” rating in a research note on Friday, November 16th. Barclays began coverage on shares of Cabot in a research note on Monday, October 8th. They set an “overweight” rating and a $76.00 target price for the company. TheStreet downgraded shares of Cabot from a “b” rating to a “c+” rating in a research note on Friday, October 19th. Northcoast Research set a $75.00 target price on shares of Cabot and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Finally, Loop Capital set a $82.00 target price on shares of Cabot and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $75.00.

Shares of CBT traded up $0.70 during mid-day trading on Friday, hitting $49.20. 476,003 shares of the company’s stock were exchanged, compared to its average volume of 421,768. Cabot has a fifty-two week low of $45.88 and a fifty-two week high of $68.63. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 1.46.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.32 annualized dividend and a dividend yield of 2.68%. Cabot’s dividend payout ratio (DPR) is 32.75%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Cabot by 26.0% during the third quarter. Bank of New York Mellon Corp now owns 3,355,240 shares of the specialty chemicals company’s stock worth $210,442,000 after purchasing an additional 691,985 shares in the last quarter. Millennium Management LLC raised its holdings in Cabot by 141.9% during the second quarter. Millennium Management LLC now owns 488,719 shares of the specialty chemicals company’s stock worth $30,188,000 after purchasing an additional 286,697 shares in the last quarter. Cabot Wellington LLC raised its holdings in Cabot by 82.2% during the third quarter. Cabot Wellington LLC now owns 628,404 shares of the specialty chemicals company’s stock worth $20,598,000 after purchasing an additional 283,539 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Cabot by 80.2% during the first quarter. Principal Financial Group Inc. now owns 481,555 shares of the specialty chemicals company’s stock worth $26,832,000 after purchasing an additional 214,334 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Cabot by 304.1% during the third quarter. Prudential Financial Inc. now owns 274,307 shares of the specialty chemicals company’s stock worth $17,205,000 after purchasing an additional 206,430 shares in the last quarter. Institutional investors and hedge funds own 85.40% of the company’s stock.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods.

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Earnings History and Estimates for Cabot (NYSE:CBT)

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