Cabot (CBT) Scheduled to Post Quarterly Earnings on Monday

Cabot (NYSE:CBT) is scheduled to be posting its quarterly earnings results after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of $1.82 per share for the quarter. Cabot has set its FY24 guidance at $7.00-$7.10 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Cabot (NYSE:CBT) last released its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the firm earned $1.42 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, analysts expect Cabot to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Cabot Price Performance

Cabot stock opened at $109.26 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. The business’s 50 day simple moving average is $107.40 and its 200 day simple moving average is $100.31. Cabot has a 12 month low of $65.10 and a 12 month high of $117.14. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.93 and a beta of 1.19.

Wall Street Analyst Weigh In

CBT has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. UBS Group reduced their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cabot presently has a consensus rating of “Hold” and an average price target of $101.75.

Insider Activity

In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the transaction, the chief financial officer now owns 59,814 shares in the company, valued at $5,968,839.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Erica Mclaughlin sold 23,274 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the sale, the chief financial officer now owns 59,814 shares of the company’s stock, valued at approximately $5,968,839.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the transaction, the executive vice president now directly owns 96,000 shares of the company’s stock, valued at approximately $10,194,240. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,939 shares of company stock worth $7,308,812. 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.