Cabot (NYSE:CBT) Updates FY 2022 Earnings Guidance

Cabot (NYSE:CBTGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $6.10-$6.20 for the period, compared to the consensus earnings per share estimate of $6.14. The company issued revenue guidance of -.

Cabot Stock Performance

NYSE CBT traded down $1.18 on Wednesday, hitting $76.99. 3 shares of the stock traded hands, compared to its average volume of 320,795. The business’s fifty day moving average is $68.35 and its two-hundred day moving average is $69.11. Cabot has a 12 month low of $47.59 and a 12 month high of $78.62. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 31.78 and a beta of 1.41. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.70.

Cabot (NYSE:CBTGet Rating) last announced its quarterly earnings data on Monday, August 8th. The specialty chemicals company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.20. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.05 billion. Cabot had a return on equity of 32.30% and a net margin of 3.50%. Cabot’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.35 earnings per share. As a group, equities analysts anticipate that Cabot will post 6.15 EPS for the current fiscal year.

Cabot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 26th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, August 25th. This represents a $1.48 annualized dividend and a dividend yield of 1.92%. Cabot’s dividend payout ratio is currently 60.16%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CBT shares. StockNews.com upgraded Cabot from a hold rating to a buy rating in a research report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft raised their price target on Cabot from $65.00 to $74.00 in a research report on Tuesday, May 17th. Finally, TheStreet upgraded Cabot from a c+ rating to a b rating in a research report on Monday, May 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cabot presently has an average rating of Moderate Buy and a consensus target price of $78.40.

Insider Buying and Selling

In other Cabot news, SVP Karen A. Kalita sold 4,575 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $78.13, for a total value of $357,444.75. Following the completion of the sale, the senior vice president now directly owns 25,874 shares in the company, valued at $2,021,535.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Hobart Kalkstein sold 17,235 shares of Cabot stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $77.86, for a total transaction of $1,341,917.10. Following the completion of the transaction, the senior vice president now directly owns 52,785 shares in the company, valued at $4,109,840.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Karen A. Kalita sold 4,575 shares of Cabot stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $78.13, for a total transaction of $357,444.75. Following the transaction, the senior vice president now owns 25,874 shares of the company’s stock, valued at $2,021,535.62. The disclosure for this sale can be found here. Insiders have sold 36,107 shares of company stock valued at $2,687,999 over the last ninety days. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Cabot

A number of hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in Cabot by 10.2% in the 2nd quarter. Captrust Financial Advisors now owns 4,445 shares of the specialty chemicals company’s stock worth $284,000 after acquiring an additional 410 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Cabot by 0.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 36,281 shares of the specialty chemicals company’s stock worth $2,314,000 after purchasing an additional 278 shares during the period. Creative Planning bought a new stake in Cabot in the 2nd quarter worth approximately $236,000. PDT Partners LLC bought a new stake in Cabot in the 2nd quarter worth approximately $309,000. Finally, Point72 Asset Management L.P. bought a new stake in Cabot in the 2nd quarter worth approximately $2,143,000. 89.50% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Company Profile

(Get Rating)

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 reinforcing carbons 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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Earnings History and Estimates for Cabot (NYSE:CBT)

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