Cabot (NYSE:CBT) Releases FY22 Earnings Guidance

Cabot (NYSE:CBTGet Rating) updated its FY22 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $5.80-6.20 for the period, compared to the Thomson Reuters consensus estimate of $5.80.

A number of equities analysts have weighed in on the company. TheStreet downgraded Cabot from a b rating to a c+ rating in a research report on Monday, January 31st. UBS Group upped their price target on Cabot from $71.00 to $85.00 in a research report on Wednesday, February 16th. Zacks Investment Research downgraded Cabot from a buy rating to a hold rating and set a $71.00 price target for the company. in a research report on Tuesday, April 5th. Finally, StockNews.com assumed coverage on Cabot in a research report on Thursday, March 31st. They set a hold rating for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $73.00.

CBT opened at $66.27 on Tuesday. Cabot has a 1-year low of $47.59 and a 1-year high of $74.87. The stock’s fifty day simple moving average is $69.14 and its 200 day simple moving average is $62.15. The company has a current ratio of 1.21, a quick ratio of 0.80 and a debt-to-equity ratio of 0.75. The stock has a market cap of $3.75 billion, a PE ratio of 38.75 and a beta of 1.37.

Cabot (NYSE:CBTGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The specialty chemicals company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.29. Cabot had a return on equity of 28.88% and a net margin of 2.78%. During the same period in the previous year, the firm posted $1.38 EPS. Equities analysts forecast that Cabot will post 5.8 earnings per share for the current year.

In related news, SVP Hobart Kalkstein sold 11,805 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $73.50, for a total value of $867,667.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Cabot by 3.2% during the 4th quarter. BlackRock Inc. now owns 6,244,761 shares of the specialty chemicals company’s stock worth $350,955,000 after buying an additional 194,544 shares during the period. Goldman Sachs Group Inc. increased its position in Cabot by 12.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 186,971 shares of the specialty chemicals company’s stock worth $10,508,000 after buying an additional 21,085 shares during the period. Deutsche Bank AG increased its position in Cabot by 18.9% during the 4th quarter. Deutsche Bank AG now owns 153,347 shares of the specialty chemicals company’s stock worth $8,618,000 after buying an additional 24,393 shares during the period. Morgan Stanley increased its position in Cabot by 60.1% during the 2nd quarter. Morgan Stanley now owns 92,941 shares of the specialty chemicals company’s stock worth $5,291,000 after buying an additional 34,894 shares during the period. Finally, California State Teachers Retirement System increased its position in Cabot by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 78,579 shares of the specialty chemicals company’s stock worth $4,416,000 after buying an additional 1,672 shares during the period. Hedge funds and other institutional investors own 89.50% of the company’s stock.

About Cabot (Get Rating)

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 reinforcing carbons 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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Earnings History and Estimates for Cabot (NYSE:CBT)

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