Wall Street Zen Downgrades Cemex (NYSE:CX) to Hold

Cemex (NYSE:CX) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages have also commented on CX. Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. Scotiabank boosted their target price on Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Santander raised Cemex to an “outperform” rating in a research report on Thursday, June 11th. Royal Bank Of Canada lifted their price target on shares of Cemex from $12.75 to $13.50 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cemex currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.07.

Cemex Stock Up 0.5%

CX stock opened at $11.38 on Friday. The firm has a market cap of $16.49 billion, a PE ratio of 33.49 and a beta of 1.53. Cemex has a 1 year low of $8.44 and a 1 year high of $13.67. The company has a fifty day simple moving average of $12.36 and a 200 day simple moving average of $12.19. The company has a current ratio of 0.92, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44.

Cemex (NYSE:CX) last posted its earnings results on Tuesday, June 30th. The construction company reported $0.24 EPS for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. The firm had revenue of $4.59 billion for the quarter. Sell-side analysts anticipate that Cemex will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group boosted its stake in Cemex by 406.2% during the fourth quarter. Schroder Investment Management Group now owns 26,348,884 shares of the construction company’s stock worth $302,749,000 after buying an additional 21,143,554 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Cemex by 451.7% in the 3rd quarter. Wellington Management Group LLP now owns 16,897,356 shares of the construction company’s stock valued at $151,907,000 after buying an additional 13,834,438 shares in the last quarter. Orbis Allan Gray Ltd raised its stake in shares of Cemex by 90.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock valued at $182,263,000 after buying an additional 12,469,417 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Cemex by 53.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 10,857,832 shares of the construction company’s stock worth $125,392,000 after acquiring an additional 3,766,639 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Cemex by 1,747.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,646,000 shares of the construction company’s stock worth $41,710,000 after acquiring an additional 3,448,600 shares during the period. 82.97% of the stock is owned by institutional investors.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.