Equities research analysts expect Cabot Corp (NYSE:CBT) to report $846.00 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Cabot’s earnings. The lowest sales estimate is $812.79 million and the highest is $867.00 million. Cabot posted sales of $723.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17%. The business is scheduled to issue its next earnings results after the market closes on Monday, November 5th.

According to Zacks, analysts expect that Cabot will report full-year sales of $3.23 billion for the current financial year, with estimates ranging from $3.19 billion to $3.28 billion. For the next year, analysts expect that the company will report sales of $3.42 billion, with estimates ranging from $3.36 billion to $3.51 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Cabot.

Cabot (NYSE:CBT) last released its earnings results on Monday, August 6th. The specialty chemicals company reported $1.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.06. The business had revenue of $854.00 million for the quarter, compared to analyst estimates of $831.59 million. Cabot had a positive return on equity of 17.41% and a negative net margin of 4.46%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share.

A number of research analysts have recently issued reports on CBT shares. Loop Capital boosted their target price on Cabot to $82.00 and gave the company a “buy” rating in a report on Friday, June 22nd. TheStreet raised Cabot from a “c+” rating to a “b+” rating in a report on Tuesday, August 7th. Barclays started coverage on Cabot in a report on Monday, October 8th. They issued an “overweight” rating and a $76.00 target price on the stock. Finally, ValuEngine lowered Cabot from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $82.43.

In related news, Director Patrick M. Prevost sold 19,481 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $65.04, for a total transaction of $1,267,044.24. Following the transaction, the director now owns 257,413 shares of the company’s stock, valued at $16,742,141.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian A. Berube sold 13,448 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $65.43, for a total value of $879,902.64. Following the transaction, the senior vice president now directly owns 52,127 shares in the company, valued at approximately $3,410,669.61. The disclosure for this sale can be found here. Insiders have sold 89,448 shares of company stock worth $5,860,779 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Cabot by 3.1% during the first quarter. BlackRock Inc. now owns 6,002,820 shares of the specialty chemicals company’s stock worth $334,477,000 after purchasing an additional 180,790 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Cabot by 13.8% during the second quarter. Bank of New York Mellon Corp now owns 2,663,255 shares of the specialty chemicals company’s stock worth $164,509,000 after purchasing an additional 322,998 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Cabot by 0.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,060,907 shares of the specialty chemicals company’s stock valued at $127,302,000 after acquiring an additional 12,452 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Cabot by 3.0% in the first quarter. Earnest Partners LLC now owns 1,541,284 shares of the specialty chemicals company’s stock valued at $85,880,000 after acquiring an additional 44,501 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Cabot by 17.4% in the second quarter. Victory Capital Management Inc. now owns 1,174,521 shares of the specialty chemicals company’s stock valued at $72,550,000 after acquiring an additional 174,295 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.

Shares of NYSE:CBT traded down $1.03 during trading on Monday, reaching $53.41. The company had a trading volume of 454,094 shares, compared to its average volume of 447,880. The firm has a market cap of $3.86 billion, a P/E ratio of 15.57, a PEG ratio of 1.38 and a beta of 1.32. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. Cabot has a fifty-two week low of $53.12 and a fifty-two week high of $68.63.

Cabot declared that its Board of Directors has authorized a share buyback program on Monday, July 16th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to buy up to 10.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, August 30th. Cabot’s dividend payout ratio is presently 38.48%.

Cabot Company Profile

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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