Q2 2018 EPS Estimates for Cabot Corp Lifted by Analyst (CBT)
Cabot Corp (NYSE:CBT) – Stock analysts at SunTrust Banks raised their Q2 2018 EPS estimates for Cabot in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst J. Sheehan now expects that the specialty chemicals company will post earnings of $1.02 per share for the quarter, up from their prior forecast of $1.01. SunTrust Banks has a “Buy” rating and a $73.00 price target on the stock. SunTrust Banks also issued estimates for Cabot’s Q4 2018 earnings at $1.14 EPS, FY2018 earnings at $4.12 EPS and FY2019 earnings at $4.53 EPS.
Cabot (NYSE:CBT) last announced its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.15. The firm had revenue of $720.00 million during the quarter, compared to analyst estimates of $653.54 million. Cabot had a return on equity of 15.01% and a net margin of 2.30%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share.
Shares of Cabot (CBT) opened at $62.15 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.63 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $3,830.81, a PE ratio of 63.42, a P/E/G ratio of 1.58 and a beta of 1.25. Cabot has a 12-month low of $50.21 and a 12-month high of $68.63.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.315 per share. The ex-dividend date is Thursday, February 22nd. This represents a $1.26 annualized dividend and a dividend yield of 2.03%. Cabot’s payout ratio is currently 128.57%.
Several institutional investors have recently bought and sold shares of CBT. PNC Financial Services Group Inc. grew its position in shares of Cabot by 12.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,652 shares of the specialty chemicals company’s stock worth $571,000 after buying an additional 1,205 shares during the period. UBS Asset Management Americas Inc. grew its position in shares of Cabot by 19.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 55,294 shares of the specialty chemicals company’s stock worth $2,954,000 after buying an additional 9,113 shares during the period. California Public Employees Retirement System grew its position in shares of Cabot by 4.4% during the 2nd quarter. California Public Employees Retirement System now owns 123,900 shares of the specialty chemicals company’s stock worth $6,620,000 after buying an additional 5,200 shares during the period. OxFORD Asset Management LLP grew its position in shares of Cabot by 131.9% during the 2nd quarter. OxFORD Asset Management LLP now owns 7,940 shares of the specialty chemicals company’s stock worth $424,000 after buying an additional 4,516 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Cabot during the 2nd quarter worth about $302,000. Institutional investors own 84.02% of the company’s stock.
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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