Analysts Set Cemex S.A.B. de C.V. (NYSE:CX) Price Target at $13.07

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $13.0667.

A number of analysts have recently weighed in on CX shares. Weiss Ratings restated a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Scotiabank increased their price objective on shares of Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Cemex from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Santander raised shares of Cemex to an “outperform” rating in a research note on Thursday, June 11th. Finally, Barclays upped their target price on shares of Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its stake in shares of Cemex by 5.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock valued at $193,000 after purchasing an additional 913 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Cemex by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock worth $2,875,000 after buying an additional 1,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Cemex by 4.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock valued at $329,000 after buying an additional 1,288 shares during the last quarter. Ieq Capital LLC raised its position in Cemex by 7.6% in the 4th quarter. Ieq Capital LLC now owns 19,598 shares of the construction company’s stock valued at $225,000 after buying an additional 1,380 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Cemex by 3.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after acquiring an additional 1,389 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Cemex Stock Up 2.1%

NYSE CX opened at $11.95 on Tuesday. The firm has a market cap of $17.31 billion, a PE ratio of 35.13 and a beta of 1.52. Cemex has a one year low of $8.17 and a one year high of $13.67. The stock’s 50 day simple moving average is $12.52 and its 200 day simple moving average is $12.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68.

Cemex (NYSE:CX) last issued its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $4.59 billion during the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. As a group, sell-side analysts forecast that Cemex will post 0.87 earnings per share for the current fiscal year.

Cemex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were given a $0.0312 dividend. This is a boost from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, June 17th. This represents a $0.12 annualized dividend and a yield of 1.0%. Cemex’s dividend payout ratio is presently 35.29%.

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.