Cabot Corp (CBT) reported quarterly earnings results on Monday, May-2-2016. The company reported $0.70 earnings per share for the quarter, missing the analyst consensus estimate by $-0.07. Analysts had a consensus of $0.77. The company posted revenue of $568.00 million in the period, compared to analysts expectations of $647.48 million. The company’s revenue was down -18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.
Many Wall Street Analysts have commented on Cabot Corp. Cabot Corp was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Apr 11, 2016. Cabot Corp was Downgraded by JP Morgan to ” Neutral” on Mar 14, 2016.
Cabot Corp opened for trading at $49.73 and hit $50.54 on the upside on Wednesday, eventually ending the session at $50.18, with a gain of 0.93% or 0.46 points. The heightened volatility saw the trading volume jump to 2,44,711 shares. Company has a market cap of $3,129 M.
In a different news, on Mar 7, 2016, James Patrick Kelly (Vice President and Controller) sold 12,225 shares at $47.05 per share price. According to the SEC, on Mar 2, 2016, Patrick M. Prevost (President and CEO) sold 60,000 shares at $44.98 per share price. On Feb 26, 2015, Ronaldo H Schmitz (director) sold 5,000 shares at $46.85 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Reinforcement Materials segment includes rubber blacks products which are used in tires and industrial products. The Company’s Performance Chemicals consists of two businesses: Specialty Carbons and Formulations business and Metal Oxides business. The Purification Solutions segment includes activated carbon products which are used as either a colorant or a decolorizing agent in the production of products for food and beverage applications. The Company’s Specialty Fluids segment produces and markets cesium formate as a drilling and completion fluid.