Cabot (NYSE:CBT) Issues Earnings Results
Cabot (NYSE:CBT) released its quarterly earnings data on Sunday. The specialty chemicals company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.41, MarketWatch Earnings reports. The firm had revenue of $842.00 million during the quarter, compared to the consensus estimate of $771.05 million. Cabot had a positive return on equity of 11.67% and a negative net margin of 9.10%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share.
Shares of NYSE:CBT opened at $56.09 on Tuesday. Cabot has a 1 year low of $26.95 and a 1 year high of $57.44. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.85 and a quick ratio of 1.17. The business has a fifty day moving average price of $53.63 and a two-hundred day moving average price of $47.19. The company has a market capitalization of $3.18 billion, a PE ratio of -13.23 and a beta of 1.60.
CBT has been the subject of several recent research reports. Barclays boosted their price objective on Cabot from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 3rd. Zacks Investment Research downgraded Cabot from a “strong-buy” rating to a “hold” rating and set a $56.00 price objective for the company. in a report on Tuesday, April 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $63.00.
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 rubber grade carbon blacks 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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