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

CEMEX, S.A.B. de C.V. (NYSE:CX) has been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $7.65.

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $6.00 in a research note on Tuesday, October 29th. Royal Bank of Canada cut CEMEX from a “sector perform” rating to an “underperform” rating and cut their target price for the stock from $6.00 to $5.00 in a research note on Wednesday, December 11th. Barclays lowered their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, Scotiabank cut their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research report on Tuesday, October 29th.

Institutional Trading of CEMEX

Several hedge funds have recently bought and sold shares of CX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of CEMEX in the 3rd quarter valued at about $190,346,000. AQR Capital Management LLC raised its holdings in CEMEX by 28.4% during the 2nd quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after buying an additional 4,217,562 shares during the period. JPMorgan Chase & Co. lifted its position in CEMEX by 123.7% in the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock worth $88,093,000 after buying an additional 7,986,204 shares during the last quarter. Perpetual Ltd boosted its stake in CEMEX by 12.6% during the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock worth $61,089,000 after buying an additional 1,117,379 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in CEMEX by 8.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock valued at $60,327,000 after acquiring an additional 807,394 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Trading Up 3.5 %

CX opened at $5.78 on Friday. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 19.25 and a beta of 1.49. CEMEX has a one year low of $5.00 and a one year high of $9.27. The business has a 50 day simple moving average of $5.59 and a two-hundred day simple moving average of $5.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73.

CEMEX Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were issued a $0.0207 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s dividend payout ratio is presently 20.00%.

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.