CEMEX, S.A.B. de C.V. (NYSE:CX) Given Average Recommendation of “Moderate Buy” by Analysts

CEMEX, S.A.B. de C.V. (NYSE:CX) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.70.

CX has been the subject of several research reports. The Goldman Sachs Group started coverage on CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 price target for the company. StockNews.com raised shares of CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $8.00 price objective on shares of CEMEX in a report on Wednesday, August 21st. Finally, Barclays raised shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a report on Wednesday, July 31st.

Hedge Funds Weigh In On CEMEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC grew its stake in CEMEX by 32.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,546 shares of the construction company’s stock worth $213,000 after purchasing an additional 6,683 shares during the period. Team Hewins LLC bought a new stake in shares of CEMEX during the 4th quarter valued at $366,000. Chesapeake Capital Corp IL purchased a new stake in shares of CEMEX in the 4th quarter worth about $368,000. Parallel Advisors LLC grew its position in shares of CEMEX by 11.5% in the 4th quarter. Parallel Advisors LLC now owns 14,006 shares of the construction company’s stock worth $109,000 after buying an additional 1,443 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of CEMEX by 5.0% in the 4th quarter. Allianz Asset Management GmbH now owns 682,877 shares of the construction company’s stock worth $5,292,000 after acquiring an additional 32,530 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Price Performance

Shares of NYSE CX opened at $6.45 on Friday. The company has a market capitalization of $9.34 billion, a PE ratio of 46.07 and a beta of 1.48. 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’s 50 day moving average price is $6.25 and its 200-day moving average price is $7.16. CEMEX has a twelve month low of $5.50 and a twelve month high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. The company had revenue of $4.49 billion for the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. On average, equities analysts anticipate that CEMEX will post 0.84 EPS for the current year.

CEMEX Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Tuesday, September 24th. Investors of record on Friday, September 13th will be issued a dividend of $0.021 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio is presently 28.57%.

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.