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

CEMEX, S.A.B. de C.V. (NYSE:CX) has received a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $8.12.

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

CEMEX Stock Performance

NYSE:CX opened at $5.93 on Wednesday. The firm’s fifty day simple moving average is $6.17 and its 200-day simple moving average is $6.90. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. The stock has a market cap of $8.58 billion, a PE ratio of 42.32 and a beta of 1.47. CEMEX has a fifty-two week low of $5.50 and a fifty-two week high of $9.27.

CEMEX (NYSE:CX) last issued its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. The company had revenue of $4.49 billion for the quarter. Analysts expect that CEMEX will post 0.79 earnings per share for the current fiscal year.

CEMEX Cuts Dividend

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

Institutional Trading of CEMEX

Hedge funds have recently bought and sold shares of the company. CWM LLC lifted its position in CEMEX by 75.0% during the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after buying an additional 1,506 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of CEMEX during the 2nd quarter worth about $33,000. Thoroughbred Financial Services LLC acquired a new stake in shares of CEMEX in the second quarter worth approximately $81,000. Fisher Asset Management LLC grew its holdings in CEMEX by 3,180.2% in the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock valued at $85,000 after purchasing an additional 10,590 shares during the period. Finally, KCM Investment Advisors LLC acquired a new position in CEMEX during the first quarter worth approximately $91,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

CEMEX Company Profile

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.