Entry level $50 = Target price $56
The fundamentals may not be particularly strong but the technical set up is.
The golden cross is a much sought after buy indicator, added to that the stock is breaking out of a 1 year congestion phase, technically the next step higher such replicate that range.
Company earnings
Cabot Corporation CBT reported profits of $33 million or 55 cents per share in the fourth quarter of fiscal 2019 (ended Sep 30, 2019), down from $94 million or $1.51 per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were $1.05, up from $1.00 in the year-ago quarter. However, earnings per share missed the Zacks Consensus Estimate of $1.10.
Net sales fell around 2.7% year over year to $827 million in the quarter. It lagged the Zacks Consensus Estimate of $847.8 million.
Growth in new business sales, strong commercial execution and cost-reduction actions helped the company to reduce the impact of continued weakness in the China business and global automobile production.
The fundamentals may not be particularly strong but the technical set up is.
The golden cross is a much sought after buy indicator, added to that the stock is breaking out of a 1 year congestion phase, technically the next step higher such replicate that range.
Company earnings
Cabot Corporation CBT reported profits of $33 million or 55 cents per share in the fourth quarter of fiscal 2019 (ended Sep 30, 2019), down from $94 million or $1.51 per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were $1.05, up from $1.00 in the year-ago quarter. However, earnings per share missed the Zacks Consensus Estimate of $1.10.
Net sales fell around 2.7% year over year to $827 million in the quarter. It lagged the Zacks Consensus Estimate of $847.8 million.
Growth in new business sales, strong commercial execution and cost-reduction actions helped the company to reduce the impact of continued weakness in the China business and global automobile production.