Cemex S.A.B. de C.V. (NYSE:CX) Receives Average Rating of “Hold” from Analysts

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have received an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $10.1438.

A number of research analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a research note on Wednesday, October 29th. Scotiabank lowered Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price objective on the stock. in a research note on Tuesday, October 21st. Citigroup cut Cemex from a “buy” rating to a “neutral” rating and upped their target price for the company from $9.00 to $10.00 in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research report on Tuesday, November 4th.

Hedge Funds Weigh In On Cemex

Hedge funds have recently modified their holdings of the business. WealthCollab LLC boosted its position in Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after buying an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after purchasing an additional 3,093 shares during the period. Ameriflex Group Inc. raised its holdings in shares of Cemex by 100.0% in the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock valued at $31,000 after buying an additional 1,744 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after buying an additional 2,027 shares during the period. Finally, Reyes Financial Architecture Inc. purchased a new position in shares of Cemex during the third quarter worth about $36,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Cemex Trading Down 1.8%

CX stock opened at $12.34 on Friday. Cemex has a 12-month low of $4.89 and a 12-month high of $12.69. The business’s 50-day moving average is $11.18 and its 200 day moving average is $9.63. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.84 and a beta of 1.59.

Cemex (NYSE:CX) last issued its quarterly earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. Cemex had a return on equity of 6.85% and a net margin of 8.62%.The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $226.73 million. On average, sell-side analysts anticipate that Cemex will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were given a $0.0224 dividend. This represents a $0.09 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, December 15th. Cemex’s dividend payout ratio is presently 9.68%.

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.