Cabot (CBT) Set to Announce Earnings on Monday

Cabot (NYSE:CBT) is scheduled to post its quarterly earnings results after the market closes on Monday, August 5th. Analysts expect Cabot to post earnings of $1.74 per share for the quarter. Cabot has set its FY24 guidance at $6.65-6.85 EPS and its FY 2024 guidance at 6.650-6.850 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cabot had a return on equity of 26.21% and a net margin of 11.51%. Cabot’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. On average, analysts expect Cabot to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Cabot Stock Performance

Cabot stock opened at $89.91 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.47 and a current ratio of 2.24. The stock has a fifty day moving average of $96.25 and a two-hundred day moving average of $91.08. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.96 and a beta of 1.20. Cabot has a fifty-two week low of $64.51 and a fifty-two week high of $103.49.

Cabot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, August 30th. Cabot’s dividend payout ratio is currently 21.77%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CBT. UBS Group boosted their price objective on Cabot from $100.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft cut Cabot from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $88.00 to $95.00 in a research note on Thursday, April 18th. Finally, Mizuho boosted their price target on Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.80.

Insider Activity

In related news, SVP Karen A. Kalita sold 13,764 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $101.73, for a total value of $1,400,211.72. Following the completion of the transaction, the senior vice president now directly owns 34,312 shares of the company’s stock, valued at approximately $3,490,559.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.07% of the company’s stock.

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.