Shares of CEMEX, S.A.B. de C.V. (NYSE:CX – Get Free Report) have received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $7.87.
Several analysts have recently weighed in on the company. StockNews.com assumed coverage on CEMEX in a research report on Thursday, August 17th. They set a “strong-buy” rating for the company. Morgan Stanley lifted their target price on CEMEX from $9.00 to $12.00 in a research report on Friday, July 28th. JPMorgan Chase & Co. lifted their target price on CEMEX from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Finally, Barclays lifted their target price on CEMEX from $8.00 to $9.00 in a research report on Friday, July 28th.
CEMEX Trading Down 0.6 %
CEMEX (NYSE:CX – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $0.18 EPS for the quarter. The company had revenue of $4.57 billion during the quarter. CEMEX had a net margin of 5.40% and a return on equity of 5.01%. Sell-side analysts anticipate that CEMEX will post 0.81 earnings per share for the current fiscal year.
Hedge Funds Weigh In On CEMEX
Several hedge funds and other institutional investors have recently modified their holdings of CX. Dodge & Cox increased its holdings in CEMEX by 1.7% in the 1st quarter. Dodge & Cox now owns 589,700 shares of the construction company’s stock worth $3,261,000 after buying an additional 9,900 shares during the period. Lincoln National Corp acquired a new stake in shares of CEMEX during the 1st quarter worth approximately $144,000. D Orazio & Associates Inc. acquired a new stake in shares of CEMEX during the 1st quarter worth approximately $63,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of CEMEX during the 1st quarter worth approximately $145,000. Finally, Natixis Advisors L.P. grew its stake in shares of CEMEX by 1.6% during the 1st quarter. Natixis Advisors L.P. now owns 380,778 shares of the construction company’s stock worth $2,106,000 after purchasing an additional 5,903 shares during the period. 31.81% of the stock is owned by hedge funds and other institutional investors.
CEMEX Company Profile
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 asphalt, concrete blocks, concrete block paving, rail sleepers, and flooring systems; architectural concrete products; and box culverts, bridges, drainage basins, barriers, and parking curbs.
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