Cabot (NYSE:CBT – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $7.00-$7.10 for the period, compared to the consensus estimate of $6.79.
Cabot Stock Down 2.4 %
CBT traded down $2.45 during trading on Wednesday, reaching $98.75. 246,459 shares of the stock traded hands, compared to its average volume of 330,698. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.24 and a quick ratio of 1.47. Cabot has a fifty-two week low of $64.51 and a fifty-two week high of $103.49. The stock’s 50-day simple moving average is $95.95 and its two-hundred day simple moving average is $91.47. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20.
Cabot (NYSE:CBT – Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Cabot had a return on equity of 26.21% and a net margin of 11.51%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 EPS. As a group, equities research analysts expect that Cabot will post 6.78 EPS for the current year.
Cabot Announces Dividend
Wall Street Analyst Weigh In
CBT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Cabot from a buy rating to a hold rating and increased their target price for the stock from $88.00 to $95.00 in a research report on Thursday, April 18th. Mizuho increased their price objective on Cabot from $104.00 to $109.00 and gave the company a buy rating in a report on Tuesday, May 7th. StockNews.com lowered shares of Cabot from a strong-buy rating to a buy rating in a research note on Monday, June 24th. Finally, UBS Group decreased their target price on Cabot from $103.00 to $98.00 and set a neutral rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $90.80.
View Our Latest Stock Report on CBT
Insider Transactions at Cabot
In other Cabot news, SVP Karen A. Kalita sold 13,764 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $101.73, for a total value of $1,400,211.72. Following the transaction, the senior vice president now directly owns 34,312 shares of the company’s stock, valued at $3,490,559.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.07% of the stock is owned by corporate insiders.
Cabot Company Profile
Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 solutions.
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