Cabot (CBT) Set to Announce Quarterly Earnings on Monday

Cabot (NYSE:CBT) will be announcing its earnings results after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of $1.66 per share for the quarter. Cabot has set its FY24 guidance at $6.30-$6.80 EPS and its FY 2024 guidance at 6.300-6.800 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Cabot (NYSE:CBT) last posted its earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. Cabot had a return on equity of 25.52% and a net margin of 11.24%. The firm had revenue of $958.00 million for the quarter, compared to analysts’ expectations of $927.28 million. On average, analysts expect Cabot to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Cabot Stock Up 0.6 %

CBT opened at $93.59 on Monday. Cabot has a 12 month low of $63.73 and a 12 month high of $98.34. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.04 and a quick ratio of 1.30. The stock has a market cap of $5.19 billion, a P/E ratio of 12.15, a P/E/G ratio of 0.99 and a beta of 1.28. The stock’s 50 day moving average price is $89.46 and its 200 day moving average price is $80.68.

Wall Street Analyst Weigh In

Several analysts recently commented on CBT shares. Deutsche Bank Aktiengesellschaft cut Cabot from a “buy” rating to a “hold” rating and raised their target price for the company from $88.00 to $95.00 in a research report on Thursday, April 18th. Mizuho began coverage on Cabot in a research note on Wednesday, March 27th. They set a “buy” rating and a $104.00 price target for the company. StockNews.com lowered Cabot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, UBS Group lowered Cabot from a “buy” rating to a “neutral” rating and decreased their price target for the company from $90.00 to $87.00 in a research note on Monday, January 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cabot has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.

Insider Transactions at Cabot

In other news, EVP Jeff Ji Zhu sold 55,233 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total value of $4,413,669.03. Following the completion of the sale, the executive vice president now owns 97,201 shares of the company’s stock, valued at $7,767,331.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.07% of the stock is currently owned by insiders.

About Cabot

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.