We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cabot (CBT) Prices 5% Senior Notes Due 2032 Worth $400 Million
Read MoreHide Full Article
Cabot Corporation (CBT - Free Report) priced a public offering of $400 million of 5% senior unsecured notes due 2032. The notes are being sold to the public for 99.33% of the face amount.
The company will pay interest on the notes semiannually on Jun 30 and Dec 30 of each year, starting Dec 30, 2022. The sale of the notes is likely to be completed on Jun 22, 2022, subject to customary closing conditions. Cabot plans to use the net proceeds from the offering to redeem its senior unsecured notes due July 2022 in full and the remaining, if any, for working capital and other general corporate purposes.
The offering of these securities is being made only through a prospectus and related prospectus supplement. The joint book-running managers for the offering are J.P. Morgan, Mizuho Securities, US Bancorp, Citigroup, Wells Fargo Securities, TD Securities and PNC Capital Markets LLC. BofA Securities, Loop Capital Markets and HSBC are the co-managers for the offering.
Shares of Cabot have gained 23.5% in the past year against a 4.5% decline of the industry.
Image Source: Zacks Investment Research
Cabot, in its last earnings call, stated that it is well positioned to deliver record-adjusted earnings per share for the fiscal year. Factoring in its strong first-half results and expectations for the second half of fiscal 2022, it raised its adjusted earnings per share outlook for the fiscal year by 30 cents at the midpoint to a new range of $5.80-$6.20.
Its ability to deliver exceptional results in both segments reflects the strength of the portfolio, the agility and strong execution of its teams and the value customers place on Cabot’s product offerings. These factors and growth investments position it well for fiscal 2022 and the coming years, the company noted.
Some other top-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and The Chemours Company (CC - Free Report) .
Allegheny has a projected earnings growth rate of 953.9% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 31.7% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 15.7% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 163.2% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 27.5% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 37.7% in a year. The company flaunts a Zacks Rank #1.
Chemours, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 30.5% for the current year. The Zacks Consensus Estimate for CC's earnings for the current year has been revised 15.2% upward in the past 60 days.
Chemours’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 28.7%. CC has gained around 18.2% over a year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Cabot (CBT) Prices 5% Senior Notes Due 2032 Worth $400 Million
Cabot Corporation (CBT - Free Report) priced a public offering of $400 million of 5% senior unsecured notes due 2032. The notes are being sold to the public for 99.33% of the face amount.
The company will pay interest on the notes semiannually on Jun 30 and Dec 30 of each year, starting Dec 30, 2022. The sale of the notes is likely to be completed on Jun 22, 2022, subject to customary closing conditions. Cabot plans to use the net proceeds from the offering to redeem its senior unsecured notes due July 2022 in full and the remaining, if any, for working capital and other general corporate purposes.
The offering of these securities is being made only through a prospectus and related prospectus supplement. The joint book-running managers for the offering are J.P. Morgan, Mizuho Securities, US Bancorp, Citigroup, Wells Fargo Securities, TD Securities and PNC Capital Markets LLC. BofA Securities, Loop Capital Markets and HSBC are the co-managers for the offering.
Shares of Cabot have gained 23.5% in the past year against a 4.5% decline of the industry.
Image Source: Zacks Investment Research
Cabot, in its last earnings call, stated that it is well positioned to deliver record-adjusted earnings per share for the fiscal year. Factoring in its strong first-half results and expectations for the second half of fiscal 2022, it raised its adjusted earnings per share outlook for the fiscal year by 30 cents at the midpoint to a new range of $5.80-$6.20.
Its ability to deliver exceptional results in both segments reflects the strength of the portfolio, the agility and strong execution of its teams and the value customers place on Cabot’s product offerings. These factors and growth investments position it well for fiscal 2022 and the coming years, the company noted.
Cabot Corporation Price and Consensus
Cabot Corporation price-consensus-chart | Cabot Corporation Quote
Zacks Rank & Other Key Picks
Cabot currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and The Chemours Company (CC - Free Report) .
Allegheny has a projected earnings growth rate of 953.9% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 31.7% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 15.7% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 163.2% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 27.5% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 37.7% in a year. The company flaunts a Zacks Rank #1.
Chemours, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 30.5% for the current year. The Zacks Consensus Estimate for CC's earnings for the current year has been revised 15.2% upward in the past 60 days.
Chemours’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 28.7%. CC has gained around 18.2% over a year.