Cemex S.A.B. de C.V. (NYSE:CX) Declares Dividend Increase – $0.02 Per Share

Cemex S.A.B. de C.V. (NYSE:CX) announced a quarterly dividend on Friday, February 27th. Investors of record on Wednesday, March 11th will be given a dividend of 0.0225 per share by the construction company on Thursday, March 19th. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, March 11th. This is a 0.5% increase from Cemex’s previous quarterly dividend of $0.02.

Cemex has a payout ratio of 12.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cemex to earn $0.72 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 12.5%.

Cemex Stock Performance

Shares of CX stock opened at $10.93 on Monday. 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 stock has a market cap of $15.84 billion, a PE ratio of 16.56, a P/E/G ratio of 0.74 and a beta of 1.60. Cemex has a 1 year low of $4.89 and a 1 year high of $13.35. The stock has a fifty day moving average price of $12.35 and a 200 day moving average price of $10.79.

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 the consensus estimate of $0.19 by ($0.38). The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.01 billion. Cemex had a return on equity of 2.85% and a net margin of 5.93%. Sell-side analysts forecast that Cemex will post 0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays restated an “overweight” rating and set a $15.00 target price on shares of Cemex in a research report on Tuesday, January 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Scotiabank lifted their price objective on Cemex from $11.10 to $13.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Zacks Research lowered Cemex from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, HSBC cut Cemex from a “buy” rating to a “hold” rating and set a $12.80 target price on the stock. in a report on Friday, February 6th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.04.

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.