Cabot Co. (NYSE:CBT) Forecasted to Post FY2022 Earnings of $6.05 Per Share

Cabot Co. (NYSE:CBTGet Rating) – Investment analysts at Jefferies Financial Group lifted their FY2022 earnings estimates for shares of Cabot in a research report issued on Tuesday, May 3rd. Jefferies Financial Group analyst L. Alexander now forecasts that the specialty chemicals company will post earnings per share of $6.05 for the year, up from their previous forecast of $5.75. Jefferies Financial Group also issued estimates for Cabot’s Q4 2022 earnings at $1.58 EPS.

Cabot (NYSE:CBTGet Rating) last released its quarterly earnings results on Monday, May 2nd. The specialty chemicals company reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.27. Cabot had a return on equity of 30.07% and a net margin of 3.43%. During the same quarter last year, the firm posted $1.38 EPS.

CBT has been the topic of several other research reports. TheStreet upgraded Cabot from a “c+” rating to a “b” rating in a report on Monday. Zacks Investment Research downgraded Cabot from a “buy” rating to a “hold” rating and set a $71.00 price objective on the stock. in a research report on Tuesday, April 5th. StockNews.com started coverage on Cabot in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, UBS Group upped their price objective on Cabot from $71.00 to $85.00 in a research report on Wednesday, February 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cabot has an average rating of “Buy” and a consensus target price of $73.00.

NYSE:CBT opened at $70.77 on Thursday. The stock’s fifty day moving average is $69.06 and its 200 day moving average is $62.40. Cabot has a fifty-two week low of $47.59 and a fifty-two week high of $74.87. The firm has a market capitalization of $4.00 billion, a PE ratio of 31.45 and a beta of 1.37. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.80 and a current ratio of 1.21.

In other 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 transaction of $867,667.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.78% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Cabot by 3.2% during the fourth quarter. BlackRock Inc. now owns 6,244,761 shares of the specialty chemicals company’s stock valued at $350,955,000 after purchasing an additional 194,544 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Cabot by 1.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,472,952 shares of the specialty chemicals company’s stock valued at $195,180,000 after purchasing an additional 43,804 shares in the last quarter. Earnest Partners LLC boosted its position in Cabot by 1.0% during the fourth quarter. Earnest Partners LLC now owns 3,086,614 shares of the specialty chemicals company’s stock valued at $173,468,000 after purchasing an additional 31,206 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Cabot by 1,309.2% during the fourth quarter. JPMorgan Chase & Co. now owns 3,077,204 shares of the specialty chemicals company’s stock valued at $172,939,000 after purchasing an additional 2,858,841 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Cabot by 3.9% during the third quarter. Wellington Management Group LLP now owns 2,499,126 shares of the specialty chemicals company’s stock valued at $125,256,000 after purchasing an additional 93,211 shares in the last quarter. 89.50% of the stock is currently owned by institutional investors.

Cabot Company Profile (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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