Cytec Industries (CYT) Shares Scheduled to Split on Thursday, September 18th
Shares of Cytec Industries (NYSE:CYT) are going to split before the market opens on Thursday, September 18th, AnalystRatings.NET reports. The 2-1 split was announced on Thursday, July 17th. The newly minted shares will be payable to shareholders after the market closes on Wednesday, September 17th.
Cytec Industries (NYSE:CYT) traded down 0.01% on Wednesday, hitting $103.40. 175,256 shares of the company’s stock traded hands. Cytec Industries has a 52-week low of $75.25 and a 52-week high of $109.25. The stock’s 50-day moving average is $103.6 and its 200-day moving average is $99.4. The company has a market cap of $3.712 billion and a price-to-earnings ratio of 16.33.
Cytec Industries (NYSE:CYT) last issued its quarterly earnings data on Friday, July 18th. 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. Analysts expect that Cytec Industries will post $6.03 EPS for the current fiscal year.
CYT has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Cytec Industries in a research note on Monday, July 28th. They now have a $113.00 price target on the stock, up previously from $108.00. Separately, analysts at Jefferies Group raised their price target on shares of Cytec Industries from $105.00 to $120.00 in a research note on Monday, July 21st. They now have a “hold” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Cytec Industries from $110.00 to $115.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Cytec Industries currently has an average rating of “Hold” and a consensus price target of $116.14.
Cytec Industries Inc is a global specialty materials and Chemicals Company focused on developing, manufacturing and selling value-added products.
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