Brokerages Set CEMEX, S.A.B. de C.V. (NYSE:CX) Price Target at $8.99

CEMEX, S.A.B. de C.V. (NYSE:CX – Get Rating) has received a consensus rating of “Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.99.

A number of equities research analysts recently commented on the company. TheStreet raised CEMEX from a “c” rating to a “b-” rating in a report on Monday, March 7th. Credit Suisse Group cut CEMEX from an “outperform” rating to a “neutral” rating and set a $6.40 price target for the company. in a research report on Wednesday, February 23rd. StockNews.com cut CEMEX from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Zacks Investment Research cut CEMEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 9th. Finally, Barclays reduced their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, January 26th.

Shares of CEMEX stock traded up $0.21 on Friday, reaching $4.75. 354,562 shares of the stock were exchanged, compared to its average volume of 9,303,175. The company has a quick ratio of 0.55, a current ratio of 0.79 and a debt-to-equity ratio of 0.71. CEMEX has a twelve month low of $4.34 and a twelve month high of $9.09. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.54 and a beta of 1.32. The business has a 50 day moving average price of $5.22 and a two-hundred day moving average price of $6.06.

CEMEX (NYSE:CX – Get Rating) last released its earnings results on Thursday, February 10th. The construction company reported $0.15 EPS for the quarter. CEMEX had a return on equity of 7.75% and a net margin of 5.14%. The firm had revenue of $3.62 billion during the quarter. Research analysts forecast that CEMEX will post 0.69 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of CX. FMR LLC increased its position in shares of CEMEX by 27.9% during the first quarter. FMR LLC now owns 1,151,305 shares of the construction company’s stock worth $5,342,000 after purchasing an additional 251,428 shares in the last quarter. Morgan Stanley boosted its stake in CEMEX by 90.6% during the second quarter. Morgan Stanley now owns 6,400,637 shares of the construction company’s stock worth $53,765,000 after buying an additional 3,042,072 shares during the last quarter. First Affirmative Financial Network acquired a new position in CEMEX during the third quarter worth $99,000. Ballentine Partners LLC boosted its stake in CEMEX by 9.8% during the third quarter. Ballentine Partners LLC now owns 16,717 shares of the construction company’s stock worth $120,000 after buying an additional 1,491 shares during the last quarter. Finally, Navellier & Associates Inc. boosted its stake in CEMEX by 11.3% during the third quarter. Navellier & Associates Inc. now owns 56,792 shares of the construction company’s stock worth $407,000 after buying an additional 5,770 shares during the last quarter. Hedge funds and other institutional investors own 35.12% of the company’s stock.

About CEMEX (Get Rating)

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

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