Cytec Industries Inc. Reaches New 12-Month High at $86.70 (CYT)
Cytec Industries (NYSE:CYT)’s share price reached a new 52-week high during trading hours on Thursday, American Banking and Market News reports. The company traded as high as $86.70 and last traded at $86.42, with a volume of 347,644 shares traded. The stock had previously closed at $85.92.
Several analysts have recently commented on the stock. Analysts at Cowen and Company initiated coverage on shares of Cytec Industries in a research note to investors on Tuesday, October 8th. They set an “outperform” rating and a $99.00 price target on the stock. Separately, analysts at Deutsche Bank downgraded shares of Cytec Industries from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, October 8th. They now have a $90.00 price target on the stock, up previously from $85.00. Finally, analysts at Oppenheimer initiated coverage on shares of Cytec Industries in a research note to investors on Thursday, September 26th. They set an “outperform” rating and a $96.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Cytec Industries currently has a consensus rating of “Buy” and an average target price of $87.93.
Cytec Industries has a one year low of $63.05 and a one year high of $86.73. The stock has a 50-day moving average of $80.52 and a 200-day moving average of $76.26. The company has a market cap of $3.153 billion and a P/E ratio of 23.01.
Cytec Industries (NYSE:CYT) last announced its earnings results on Friday, October 18th. The company reported $1.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.32 by $0.02. The company had revenue of $464.00 million for the quarter, compared to the consensus estimate of $482.61 million. During the same quarter last year, the company posted $0.91 earnings per share. Cytec Industries’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that Cytec Industries will post $4.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, November 25th. Investors of record on Monday, November 11th will be given a dividend of $0.13 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.58%.
Cytec Industries Inc (NYSE:CYT) is a specialty chemicals and materials company focused on developing, manufacturing and selling value-added products.
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