Cabot (NYSE:CBT) issued its quarterly earnings data on Sunday. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.41, MarketWatch Earnings reports. Cabot had a negative net margin of 9.10% and a positive return on equity of 11.67%. The business had revenue of $842.00 million during the quarter, compared to the consensus estimate of $771.05 million. During the same period in the prior year, the firm posted $0.77 EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year.
Shares of CBT traded up $1.19 during trading hours on Tuesday, hitting $57.28. The company had a trading volume of 6,451 shares, compared to its average volume of 292,790. Cabot has a 52-week low of $26.95 and a 52-week high of $57.44. The company has a quick ratio of 1.17, a current ratio of 1.85 and a debt-to-equity ratio of 1.34. The stock’s 50 day moving average price is $53.63 and its 200 day moving average price is $47.19. The firm has a market cap of $3.24 billion, a P/E ratio of -13.63 and a beta of 1.60.
A number of research analysts have weighed in on CBT shares. Zacks Investment Research cut shares of Cabot from a “strong-buy” rating to a “hold” rating and set a $56.00 target price on the stock. in a research note on Tuesday, April 6th. Barclays lifted their target price on Cabot from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Cabot currently has an average rating of “Hold” and a consensus price target of $63.00.
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 rubber grade carbon blacks 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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