Cabot (NYSE:CBT) Issues FY 2024 Earnings Guidance

Cabot (NYSE:CBT) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 6.650-6.850 for the period, compared to the consensus earnings per share estimate of 6.650. The company issued revenue guidance of -. Cabot also updated its FY24 guidance to $6.65-6.85 EPS.

Analyst Upgrades and Downgrades

CBT has been the topic of several analyst reports. StockNews.com lowered Cabot from a strong-buy rating to a buy rating in a research report on Wednesday, February 14th. Mizuho began coverage on Cabot in a report on Wednesday, March 27th. They issued a buy rating and a $104.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered Cabot from a buy rating to a hold rating and increased their price target for the company from $88.00 to $95.00 in a research report on Thursday, April 18th. Finally, UBS Group lowered shares of Cabot from a buy rating to a neutral rating and reduced their price objective for the company from $90.00 to $87.00 in a research note on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cabot presently has a consensus rating of Moderate Buy and a consensus target price of $90.17.

Cabot Stock Performance

Shares of Cabot stock traded up $1.83 during midday trading on Monday, hitting $95.94. The company had a trading volume of 454,695 shares, compared to its average volume of 303,188. The stock has a market cap of $5.32 billion, a PE ratio of 12.22, a P/E/G ratio of 1.00 and a beta of 1.27. Cabot has a 1-year low of $63.73 and a 1-year high of $98.34. The business’s 50 day simple moving average is $90.56 and its two-hundred day simple moving average is $81.49. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.04 and a quick ratio of 1.30.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, February 5th. The specialty chemicals company reported $1.56 earnings per share for the quarter, topping 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 company had revenue of $958.00 million for the quarter, compared to analyst estimates of $927.28 million. As a group, equities analysts predict that Cabot will post 6.58 EPS for the current fiscal year.

Insider Buying and Selling at Cabot

In other Cabot news, EVP Jeff Ji Zhu sold 55,233 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $79.91, for a total value of $4,413,669.03. Following the transaction, the executive vice president now directly 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 available through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

Cabot Company Profile

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.