Cemex (NYSE:CX) Reaches New 12-Month High After Dividend Announcement

by · The Cerbat Gem

Cemex S.A.B. de C.V. (NYSE:CX – Get Free Report)’s share price reached a new 52-week high on Monday after the company announced a dividend. The company traded as high as $11.17 and last traded at $10.9750, with a volume of 736551 shares traded. The stock had previously closed at $10.83.

The newly announced dividend which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be issued a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, December 15th. Cemex’s dividend payout ratio is 9.68%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CX. Royal Bank Of Canada lifted their target price on shares of Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a research report on Wednesday, October 29th. Bank of America raised Cemex from a “neutral” rating to a “buy” rating and lifted their target price for the company from $10.00 to $10.80 in a research note on Wednesday, October 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Cemex from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. Finally, Citigroup downgraded shares of Cemex from a “buy” rating to a “neutral” rating and increased their target price for the stock from $9.00 to $10.00 in a research report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.14.

Read Our Latest Stock Report on Cemex

Cemex Price Performance

The firm has a market capitalization of $15.86 billion, a P/E ratio of 11.73, a PEG ratio of 1.24 and a beta of 1.61. The company has a fifty day moving average of $9.90 and a 200 day moving average of $8.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.91 and a quick ratio of 0.67.

Cemex (NYSE:CX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. Cemex had a net margin of 8.62% and a return on equity of 6.85%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $226.73 million. Sell-side analysts predict that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Institutional Trading of Cemex

A number of large investors have recently bought and sold shares of CX. Cetera Investment Advisers boosted its position in shares of Cemex by 18.1% during the 1st quarter. Cetera Investment Advisers now owns 37,391 shares of the construction company’s stock worth $210,000 after purchasing an additional 5,739 shares in the last quarter. Vanguard Group Inc. raised its stake in Cemex by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,908,186 shares of the construction company’s stock worth $21,925,000 after buying an additional 44,684 shares during the period. Headlands Technologies LLC bought a new position in Cemex in the first quarter worth approximately $234,000. National Bank of Canada FI acquired a new stake in Cemex in the first quarter valued at approximately $2,188,000. Finally, Aigen Investment Management LP acquired a new stake in Cemex in the first quarter valued at approximately $218,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Company Profile

(Get Free Report)

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.

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