Morgan Stanley Downgrades CEMEX (NYSE:CX) to Equal Weight

CEMEX (NYSE:CX) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Wednesday, MarketBeat Ratings reports.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research report on Monday, February 10th. The Goldman Sachs Group increased their price target on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.82.

CEMEX Stock Up 0.8 %

Shares of CEMEX stock opened at $6.04 on Wednesday. CEMEX has a twelve month low of $5.00 and a twelve month high of $9.27. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 9.58 and a beta of 1.45. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average price of $6.16 and a 200 day moving average price of $5.89.

CEMEX (NYSE:CX) last issued its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. Equities research analysts forecast that CEMEX will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CX. IFP Advisors Inc boosted its holdings in shares of CEMEX by 159.1% in the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after buying an additional 3,062 shares during the period. Barclays PLC boosted its stake in CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after acquiring an additional 1,843 shares during the period. Townsquare Capital LLC bought a new position in shares of CEMEX during the fourth quarter valued at approximately $57,000. Dark Forest Capital Management LP acquired a new stake in shares of CEMEX during the 4th quarter worth approximately $59,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of CEMEX in the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

About CEMEX

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.