(CBT - Free Report
) has been selected by the New York State Department of Environmental Conservation (NYSDEC) as the new activated carbon supplier to the Town of Hoosick, NY for the point-of-entry treatment systems (POETS) project. Cabot’s Hydrodarco 4000 granular activated carbon will be used for the removal of perfluorooctanoic acid (PFOA) from the Town’s private wells which supply drinking water to residents and businesses.
Recently, a groundwater testing for toxic manufacturing chemicals, including PFOA, was conducted in Hoosick Falls. The firm managing the POETS project, Arcadis tested several activated carbons from different suppliers. It concluded that Hydrodarco 4000 activated carbon was the most effective in removing these harmful pollutants during the expected lifetime of the POET systems.
Cabot’s shares have lost around 3.8% over a year, as against the roughly 12.2% gain recorded by the industry
The Zacks Consensus Estimate for fiscal 2018 earnings for Cabot is currently pegged at $4.06, reflecting an expected year-over-year growth of 18.4%. Moreover, earnings are expected to register 11.6% growth in fiscal 2019.
Cabot expects its Reinforcement Materials segment to benefit, in the fiscal second quarter, from customer agreements along with a firm spot market in Europe and Asia. Also, the Performance Chemicals segment is expected to witness an improvement on a sequential basis owing to higher seasonal volumes and the favorable impact from price increases. Continued momentum in the specialty applications is also expected to benefit the Purification Solutions segment.
Cabot Corporation Price and Consensus
Zacks Rank & Other Stocks to Consider
Cabot currently carries a Zacks Rank #2 (Buy).
Methanex has an expected long-term earnings growth rate of 15% and flaunts a Zacks Rank #1. Its shares have gained 42.4% over a year.
LyondellBasell has an expected long-term earnings growth rate of 9% and carries a Zacks Rank #2. Its shares have moved up 18.4% in a year.
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