Zacks Investment Research upgraded shares of Cemex SAB de CV (NYSE:CX) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. They currently have $3.25 price objective on the construction company’s stock.
According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “
A number of other equities research analysts have also weighed in on CX. Bradesco Corretora lowered Cemex SAB de CV from an outperform rating to a neutral rating and set a $3.00 price objective on the stock. in a research report on Tuesday, April 14th. Loop Capital lowered Cemex SAB de CV from a hold rating to a sell rating and set a $1.75 price target on the stock. in a research report on Friday, April 17th. Bank of America lifted their price target on Cemex SAB de CV from $3.00 to $3.50 and gave the company a buy rating in a research report on Thursday, June 18th. HSBC downgraded Cemex SAB de CV from a hold rating to a reduce rating in a report on Wednesday, April 8th. Finally, BNP Paribas downgraded Cemex SAB de CV to a sell rating and set a $2.50 target price on the stock. in a report on Tuesday, June 16th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $2.80.
Cemex SAB de CV (NYSE:CX) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $3.09 billion for the quarter. Cemex SAB de CV had a return on equity of 1.10% and a net margin of 1.09%. As a group, equities analysts expect that Cemex SAB de CV will post 0.01 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC increased its position in Cemex SAB de CV by 88.8% in the first quarter. HighTower Advisors LLC now owns 24,243 shares of the construction company’s stock worth $51,000 after buying an additional 11,400 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Cemex SAB de CV by 20.2% in the first quarter. APG Asset Management N.V. now owns 2,645,044 shares of the construction company’s stock worth $10,930,000 after buying an additional 444,100 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in shares of Cemex SAB de CV in the first quarter worth $98,000. Engineers Gate Manager LP purchased a new position in shares of Cemex SAB de CV in the first quarter worth $46,000. Finally, Paloma Partners Management Co lifted its holdings in shares of Cemex SAB de CV by 160.5% in the first quarter. Paloma Partners Management Co now owns 61,853 shares of the construction company’s stock worth $131,000 after buying an additional 38,105 shares in the last quarter. Institutional investors and hedge funds own 33.74% of the company’s stock.
About Cemex SAB de CV
CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
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