CEMEX (NYSE:CX) Price Target Raised to $6.00 at Royal Bank of Canada

CEMEX (NYSE:CX) had its price objective upped by Royal Bank of Canada from $5.00 to $6.00 in a report published on Monday morning,Benzinga reports. They currently have an underperform rating on the construction company’s stock.

Other analysts have also recently issued reports about the company. Scotiabank cut their target price on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research note on Tuesday, October 29th. Barclays lowered their target price on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $7.00 to $6.00 in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CEMEX currently has an average rating of “Hold” and an average price target of $7.82.

CEMEX Price Performance

Shares of CEMEX stock opened at $6.65 on Monday. The firm has a market capitalization of $9.63 billion, a PE ratio of 10.55 and a beta of 1.49. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. CEMEX has a 12 month low of $5.00 and a 12 month high of $9.27. The business’s 50-day moving average price is $5.75 and its 200-day moving average price is $5.88.

CEMEX (NYSE:CX) last posted its quarterly earnings results 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 7.82%. Sell-side analysts forecast that CEMEX will post 0.76 EPS for the current fiscal year.

CEMEX Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were paid a $0.0207 dividend. The ex-dividend date was Tuesday, December 10th. CEMEX’s payout ratio is 9.52%.

Institutional Investors Weigh In On CEMEX

A number of institutional investors have recently made changes to their positions in the company. IFP Advisors Inc lifted its stake in CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after acquiring an additional 3,062 shares during the period. Barclays PLC raised its holdings in shares of CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares during the last quarter. Allworth Financial LP lifted its position in CEMEX by 36.0% during the third 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 period. Aureus Asset Management LLC purchased a new stake in CEMEX in the third quarter worth approximately $70,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of CEMEX by 26.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company’s stock worth $73,000 after buying an additional 2,720 shares during the last quarter. Hedge funds and other institutional investors 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.