Cytec Industries Given New $123.00 Price Target at Oppenheimer (CYT)
Equities researchers at Oppenheimer boosted their price objective on shares of Cytec Industries (NYSE:CYT) from $105.00 to $123.00 in a research report issued on Friday. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 19.37% from the stock’s previous close.
A number of other firms have also recently commented on CYT. Analysts at KeyCorp reiterated a “buy” rating on shares of Cytec Industries in a research note on Wednesday. They now have a $119.00 price target on the stock, up previously from $113.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Cytec Industries in a research note on Wednesday, July 9th. They now have a $108.00 price target on the stock, up previously from $101.00. Finally, analysts at Topeka Capital Markets initiated coverage on shares of Cytec Industries in a research note on Wednesday, June 25th. They set a “hold” rating and a $108.00 price target on the stock. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $105.08.
Cytec Industries (NYSE:CYT) opened at 103.04 on Friday. Cytec Industries has a 52-week low of $74.29 and a 52-week high of $107.07. The stock has a 50-day moving average of $102.4 and a 200-day moving average of $96.54. The company has a market cap of $3.695 billion and a P/E ratio of 20.46.
Cytec Industries (NYSE:CYT) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.53 by $0.18. The company had revenue of $527.00 million for the quarter, compared to the consensus estimate of $522.29 million. During the same quarter in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts predict that Cytec Industries will post $5.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 25th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.97%.
Cytec Industries Inc is a global specialty materials and Chemicals Company focused on developing, manufacturing and selling value-added products.
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