Published On: Wed, Sep 21st, 2016

SunTrust Banks Comments on Cabot Corp.’s FY2018 Earnings (CBT)

Cabot Corp. (NYSE:CBT) – Analysts at SunTrust Banks raised their FY2018 EPS estimates for shares of Cabot Corp. in a research note issued to investors on Tuesday. SunTrust Banks analyst J. Sheehan now expects that the brokerage will earn $3.64 per share for the year, up from their previous forecast of $3.58. SunTrust Banks has a “Neutral” rating and a $51.00 price target on the stock. SunTrust Banks also issued estimates for Cabot Corp.’s FY2019 earnings at $3.89 EPS and FY2020 earnings at $4.13 EPS.
Cabot Corp. (NYSE:CBT) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.93 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.93. Cabot Corp. had a return on equity of 13.91% and a net margin of 5.68%. The business had revenue of $621 million for the quarter, compared to analyst estimates of $611.73 million. During the same quarter in the prior year, the firm posted $0.64 EPS. The business’s quarterly revenue was down 10.5% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Cabot Corp. from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. Deutsche Bank AG increased their price target on Cabot Corp. from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, August 12th. TheStreet raised Cabot Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $60.00 price target on shares of Cabot Corp. in a research report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $53.17.

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Cabot Corp. (NYSE:CBT) traded up 1.90% during midday trading on Wednesday, reaching $51.46. The company’s stock had a trading volume of 252,897 shares. The stock has a market cap of $3.21 billion, a P/E ratio of 23.63 and a beta of 1.62. Cabot Corp. has a 12-month low of $30.70 and a 12-month high of $52.53. The stock’s 50 day moving average is $49.58 and its 200 day moving average is $47.84.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Cabot Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 5,106,514 shares of the company’s stock valued at $233,163,000 after buying an additional 456,744 shares during the period. Wellington Management Group LLP raised its position in Cabot Corp. by 12.2% in the first quarter. Wellington Management Group LLP now owns 2,613,357 shares of the company’s stock valued at $126,304,000 after buying an additional 285,118 shares during the period. BlackRock Fund Advisors raised its position in Cabot Corp. by 5.2% in the second quarter. BlackRock Fund Advisors now owns 2,213,469 shares of the company’s stock valued at $101,067,000 after buying an additional 109,065 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Cabot Corp. by 3.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,872,171 shares of the company’s stock valued at $85,483,000 after buying an additional 68,165 shares during the period. Finally, State Street Corp raised its position in Cabot Corp. by 2.0% in the second quarter. State Street Corp now owns 1,745,826 shares of the company’s stock valued at $79,717,000 after buying an additional 33,831 shares during the period. 85.62% of the stock is currently owned by institutional investors.
In other Cabot Corp. news, VP James Patrick Kelly sold 2,500 shares of Cabot Corp. stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $48.95, for a total transaction of $122,375.00. Following the transaction, the vice president now owns 27,085 shares of the company’s stock, valued at $1,325,810.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Patrick M. Prevost sold 2,200 shares of Cabot Corp. stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $50.21, for a total value of $110,462.00. Following the transaction, the director now directly owns 280,508 shares in the company, valued at approximately $14,084,306.68. The disclosure for this sale can be found here. Insiders own 2.48% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 26th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, August 24th. Cabot Corp.’s dividend payout ratio (DPR) is presently 54.30%.
About Cabot Corp.
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.

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