CEMEX, S.A.B. de C.V. (NYSE:CX) Receives Average Rating of “Moderate Buy” from Brokerages

by · The Markets Daily

CEMEX, S.A.B. de C.V. (NYSE:CX – Get Free Report) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.12.

A number of equities research analysts recently weighed in on CX shares. JPMorgan Chase & Co. reduced their price objective on CEMEX from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada raised shares of CEMEX from an “underperform” rating to a “sector perform” rating and reduced their target price for the stock from $9.00 to $6.50 in a report on Tuesday, October 8th. The Goldman Sachs Group started coverage on shares of CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 price target for the company. Finally, Barclays raised shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective on the stock in a research note on Wednesday, July 31st.

Get Our Latest Research Report on CX

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. CWM LLC boosted its position in shares of CEMEX by 75.0% during the 1st quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after purchasing an additional 1,506 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in CEMEX during the second quarter worth $33,000. Vontobel Holding Ltd. acquired a new position in CEMEX during the third quarter worth $77,000. Thoroughbred Financial Services LLC acquired a new position in shares of CEMEX during the second quarter valued at about $81,000. Finally, Fisher Asset Management LLC increased its position in shares of CEMEX by 3,180.2% during the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after acquiring an additional 10,590 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

CEMEX Price Performance

Shares of NYSE:CX opened at $5.97 on Wednesday. CEMEX has a 12 month low of $5.50 and a 12 month high of $9.27. The stock has a market capitalization of $8.65 billion, a PE ratio of 42.64 and a beta of 1.47. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $6.14 and a 200-day moving average of $6.81.

CEMEX (NYSE:CX – Get Free Report) last released its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $4.49 billion for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. On average, equities research analysts predict that CEMEX will post 0.79 EPS for the current fiscal year.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were given a dividend of $0.021 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, September 13th. CEMEX’s dividend payout ratio (DPR) is presently 28.57%.

About CEMEX

(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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