Cabot (NYSE:CBT) announced its earnings results on Sunday. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.41, MarketWatch Earnings reports. The firm had revenue of $842.00 million during the quarter, compared to analyst estimates of $771.05 million. Cabot had a positive return on equity of 11.67% and a negative net margin of 9.10%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS.
Shares of CBT traded up $1.31 during trading hours on Tuesday, hitting $57.40. The company’s stock had a trading volume of 388,748 shares, compared to its average volume of 293,936. The business has a 50 day simple moving average of $53.63 and a two-hundred day simple moving average of $47.19. Cabot has a 52-week low of $26.95 and a 52-week high of $58.70. 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 company has a market cap of $3.25 billion, a price-to-earnings ratio of -13.63 and a beta of 1.60.
Several analysts have commented on CBT shares. Barclays lifted their price objective on shares of Cabot from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 3rd. Zacks Investment Research cut shares of Cabot from a “strong-buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a report on Tuesday, April 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target 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.
Featured Article: What is the float in trading stocks?
Receive News & Ratings for Cabot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot and related companies with MarketBeat.com's FREE daily email newsletter.