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

Shares of CEMEX, S.A.B. de C.V. (NYSE:CX) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.82.

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

Institutional Trading of CEMEX

Hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. acquired a new stake in shares of CEMEX during the first quarter worth approximately $114,000. KCM Investment Advisors LLC acquired a new position in CEMEX during the 1st quarter worth $91,000. Atomi Financial Group Inc. increased its position in shares of CEMEX by 7.1% in the 1st quarter. Atomi Financial Group Inc. now owns 33,700 shares of the construction company’s stock worth $304,000 after purchasing an additional 2,241 shares during the last quarter. Sei Investments Co. raised its stake in shares of CEMEX by 7.0% in the 1st quarter. Sei Investments Co. now owns 3,463,588 shares of the construction company’s stock valued at $31,207,000 after purchasing an additional 226,897 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of CEMEX by 2.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 132,972 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 3,200 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

CEMEX Price Performance

Shares of CEMEX stock opened at $5.89 on Friday. The business’s fifty day moving average price is $5.91 and its 200 day moving average price is $6.52. CEMEX has a twelve month low of $5.00 and a twelve month high of $9.27. 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 stock has a market capitalization of $8.54 billion, a P/E ratio of 19.63 and a beta of 1.49.

CEMEX Cuts Dividend

The company also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were issued a dividend of $0.021 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s payout ratio is 13.33%.

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.