CEMEX, S.A.B. de C.V. (NYSE:CX) Receives $7.82 Average PT from Analysts

CEMEX, S.A.B. de C.V. (NYSE:CX) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $7.82.

CX has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Royal Bank of Canada dropped their price target on CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 29th. Barclays dropped their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Scotiabank lowered their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. Finally, StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th.

CEMEX Stock Up 0.2 %

CX stock opened at $5.33 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $5.87 and its 200 day moving average is $6.46. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 17.77 and a beta of 1.49. CEMEX has a 1-year low of $5.00 and a 1-year high of $9.27.

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 issued a dividend of $0.021 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is 13.33%.

Hedge Funds Weigh In On CEMEX

Large investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of CEMEX during the 2nd quarter valued at approximately $33,000. Allworth Financial LP increased its position in shares of CEMEX by 36.0% during the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,747 shares during the last quarter. KCM Investment Advisors LLC bought a new position in shares of CEMEX during the 1st quarter valued at approximately $91,000. Oppenheimer & Co. Inc. bought a new position in shares of CEMEX during the 1st quarter valued at approximately $114,000. Finally, Vontobel Holding Ltd. bought a new position in CEMEX in the 3rd quarter valued at $77,000. Institutional investors 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.