Brokerages Set Cemex S.A.B. de C.V. (NYSE:CX) PT at $11.04

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have been assigned an average rating of “Hold” from the thirteen analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $11.0389.

A number of research firms recently issued reports on CX. Zacks Research downgraded shares of Cemex from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. Scotiabank boosted their price objective on shares of Cemex from $11.10 to $13.50 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Barclays restated an “overweight” rating and issued a $15.00 price objective on shares of Cemex in a research note on Tuesday, January 27th. Finally, HSBC downgraded Cemex from a “buy” rating to a “hold” rating and set a $12.80 target price on the stock. in a research report on Friday, February 6th.

Cemex Stock Up 4.9%

CX stock opened at $11.96 on Friday. Cemex has a fifty-two week low of $4.89 and a fifty-two week high of $13.35. The business’s 50-day moving average is $12.38 and its two-hundred day moving average is $10.74. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.62 and a current ratio of 0.83. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 0.77 and a beta of 1.60.

Cemex (NYSE:CX) last released its quarterly earnings results on Thursday, February 5th. The construction company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.38). Cemex had a net margin of 5.93% and a return on equity of 2.85%. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.01 billion. As a group, analysts forecast that Cemex will post 0.69 earnings per share for the current year.

Cemex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Wednesday, March 11th will be paid a dividend of $0.0225 per share. This is a boost from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, March 11th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.8%. Cemex’s dividend payout ratio is presently 13.64%.

Hedge Funds Weigh In On Cemex

A number of hedge funds have recently modified their holdings of CX. Kestra Advisory Services LLC bought a new stake in shares of Cemex during the 4th quarter valued at $34,000. Ameriflex Group Inc. boosted its holdings in Cemex by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after buying an additional 1,744 shares during the period. WealthCollab LLC increased its stake in Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after buying an additional 1,580 shares in the last quarter. Reyes Financial Architecture Inc. purchased a new stake in Cemex in the 3rd quarter worth $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after acquiring an additional 3,093 shares during the period. 82.97% of the stock is currently 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.