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

CEMEX, S.A.B. de C.V. (NYSE:CX) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with 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 $8.12.

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

Institutional Investors Weigh In On CEMEX

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in CEMEX by 5.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,828,391 shares of the construction company’s stock worth $21,920,000 after buying an additional 137,306 shares during the last quarter. Wellington Management Group LLP raised its holdings in CEMEX by 76.4% during the fourth quarter. Wellington Management Group LLP now owns 444,262 shares of the construction company’s stock worth $3,443,000 after purchasing an additional 192,399 shares in the last quarter. Fisher Asset Management LLC lifted its position 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. PNC Financial Services Group Inc. boosted its holdings in CEMEX by 54.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,124 shares of the construction company’s stock valued at $102,000 after purchasing an additional 4,623 shares in the last quarter. Finally, CWM LLC boosted its holdings in CEMEX by 75.0% in the 1st quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after purchasing an additional 1,506 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

CEMEX Price Performance

Shares of CEMEX stock opened at $5.93 on Wednesday. The stock has a market capitalization of $8.58 billion, a P/E ratio of 42.32 and a beta of 1.47. The business has a 50 day simple moving average of $6.17 and a two-hundred day simple moving average of $6.90. CEMEX has a 12 month low of $5.50 and a 12 month high of $9.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65.

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

CEMEX Cuts Dividend

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