FY2019 EPS Estimates for Cabot Corp Cut by Jefferies Financial Group (NYSE:CBT)

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Cabot Corp (NYSE:CBT) – Stock analysts at Jefferies Financial Group decreased their FY2019 earnings per share (EPS) estimates for shares of Cabot in a report released on Thursday, August 15th. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $3.90 per share for the year, down from their previous estimate of $4.20. Jefferies Financial Group also issued estimates for Cabot’s Q4 2019 earnings at $1.03 EPS and FY2020 earnings at $4.20 EPS.

Cabot (NYSE:CBT) last posted its earnings results on Monday, August 5th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.00. Cabot had a return on equity of 18.60% and a net margin of 6.49%. The firm had revenue of $845.00 million for the quarter, compared to analyst estimates of $858.86 million. During the same quarter in the prior year, the company earned $1.06 EPS. Cabot’s revenue was down 1.1% on a year-over-year basis.

Other equities research analysts have also issued research reports about the company. TheStreet lowered Cabot from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Northcoast Research set a $45.00 target price on Cabot and gave the company a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on Cabot from $50.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Zacks Investment Research lowered Cabot from a “hold” rating to a “sell” rating and set a $42.00 target price on the stock. in a research note on Friday, August 9th. Finally, Loop Capital lowered Cabot from a “buy” rating to a “hold” rating and reduced their target price for the company from $69.00 to $41.00 in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.80.

CBT stock opened at $38.43 on Monday. Cabot has a 1 year low of $37.11 and a 1 year high of $67.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.27 and a current ratio of 2.07. The stock’s 50 day moving average price is $43.26 and its 200 day moving average price is $44.50. The firm has a market cap of $2.24 billion, a P/E ratio of 9.54, a PEG ratio of 0.96 and a beta of 1.48.

Several institutional investors have recently modified their holdings of the business. LSV Asset Management lifted its stake in shares of Cabot by 0.9% during the 2nd quarter. LSV Asset Management now owns 2,793,804 shares of the specialty chemicals company’s stock worth $133,292,000 after purchasing an additional 26,137 shares during the period. Earnest Partners LLC lifted its stake in shares of Cabot by 57.9% during the 2nd quarter. Earnest Partners LLC now owns 2,382,366 shares of the specialty chemicals company’s stock worth $113,663,000 after purchasing an additional 873,528 shares during the period. Bank of America Corp DE lifted its stake in shares of Cabot by 17.6% during the 2nd quarter. Bank of America Corp DE now owns 1,196,424 shares of the specialty chemicals company’s stock worth $57,082,000 after purchasing an additional 178,945 shares during the period. Ceredex Value Advisors LLC lifted its stake in shares of Cabot by 19.0% during the 1st quarter. Ceredex Value Advisors LLC now owns 1,121,857 shares of the specialty chemicals company’s stock worth $46,703,000 after purchasing an additional 179,090 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Cabot by 17.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 839,165 shares of the specialty chemicals company’s stock worth $40,037,000 after purchasing an additional 124,654 shares during the period. 87.45% of the stock is currently owned by institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Thursday, August 29th. Cabot’s dividend payout ratio is presently 34.74%.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. 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 compounds of carbon black and rubber.

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Earnings History and Estimates for Cabot (NYSE:CBT)

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