Cabot (NYSE:CBT) Updates FY24 Earnings Guidance

Cabot (NYSE:CBT) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $6.65-6.85 for the period, compared to the consensus earnings per share estimate of $6.64. Cabot also updated its FY 2024 guidance to 6.650-6.850 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group lowered shares of Cabot from a buy rating to a neutral rating and dropped their price objective for the stock from $90.00 to $87.00 in a report on Monday, January 8th. Mizuho initiated coverage on Cabot in a research report on Wednesday, March 27th. They set a buy rating and a $104.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered Cabot from a buy rating to a hold rating and lifted their target price for the company from $88.00 to $95.00 in a research report on Thursday, April 18th. Finally, StockNews.com downgraded Cabot from a strong-buy rating to a buy rating in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $90.17.

Cabot Stock Up 1.9 %

Shares of Cabot stock traded up $1.83 during trading on Monday, reaching $95.94. 454,597 shares of the company traded hands, compared to its average volume of 303,187. Cabot has a 1-year low of $63.73 and a 1-year 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 firm has a market capitalization of $5.32 billion, a PE ratio of 12.22, a P/E/G ratio of 1.00 and a beta of 1.27. The company has a 50 day moving average price of $90.56 and a 200-day moving average price of $81.49.

Cabot (NYSE:CBT) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $927.28 million. As a group, equities research analysts expect that Cabot will post 6.58 earnings per share for the current fiscal year.

Insider Transactions at Cabot

In other news, EVP Jeff Ji Zhu sold 55,233 shares of the stock in a transaction that occurred 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 directly owns 97,201 shares of the company’s stock, valued at $7,767,331.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.07% of the stock is currently owned by insiders.

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.