Cemex (NYSE:CX) Hits New 12-Month High – Should You Buy?

by · The Markets Daily

Cemex S.A.B. de C.V. (NYSE:CXGet Free Report)’s stock price reached a new 52-week high on Monday . The stock traded as high as $12.50 and last traded at $12.4350, with a volume of 475679 shares traded. The stock had previously closed at $12.42.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada raised their target price on Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a research note on Wednesday, October 29th. Barclays lifted their price target on Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group increased their price objective on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Citigroup cut Cemex from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $9.00 to $10.00 in a research note on Monday, October 13th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cemex has a consensus rating of “Hold” and an average target price of $10.14.

Read Our Latest Stock Analysis on CX

Cemex Stock Up 0.6%

The stock has a market cap of $18.11 billion, a PE ratio of 13.44, a P/E/G ratio of 1.57 and a beta of 1.59. The business has a 50 day moving average price of $11.00 and a 200 day moving average price of $9.51. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CXGet Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.15. Cemex had a return on equity of 6.85% and a net margin of 8.62%.The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $226.73 million. Equities research analysts expect that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were paid a $0.0224 dividend. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, December 15th. Cemex’s payout ratio is currently 9.68%.

Institutional Trading of Cemex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CX. WealthCollab LLC raised its position in shares of Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after acquiring an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after purchasing an additional 3,093 shares in the last quarter. Ameriflex Group Inc. raised its holdings in Cemex by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after purchasing an additional 1,744 shares during the period. Farther Finance Advisors LLC boosted its position in Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after purchasing an additional 2,027 shares in the last quarter. Finally, Reyes Financial Architecture Inc. purchased a new position in Cemex during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Cemex

(Get Free Report)

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.

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