Cabot (NYSE:CBT) Releases FY 2024 Earnings Guidance

Cabot (NYSE:CBT - Get Free Report) updated its FY 2024 earnings guidance on Monday. 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.

Analysts Set New Price Targets

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

Cabot Stock Up 1.9 %

CBT traded up $1.75 during trading on Monday, hitting $95.86. 454,682 shares of the company's stock traded hands, compared to its average volume of 303,188. The company's 50 day simple moving average is $90.82 and its two-hundred day simple moving average is $81.68. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 0.74. Cabot has a 12-month low of $63.73 and a 12-month high of $98.34. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.00 and a beta of 1.27.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.07. The company had revenue of $958.00 million for the quarter, compared to analysts' expectations of $927.28 million. Cabot had a return on equity of 25.52% and a net margin of 11.24%. Analysts predict that Cabot will post 6.58 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jeff Ji Zhu sold 55,233 shares of Cabot stock in a transaction dated 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 transaction, the executive vice president now owns 97,201 shares in the company, valued at $7,767,331.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.