CEMEX (NYSE:CX) Price Target Cut to $5.00 by Analysts at Royal Bank of Canada

CEMEX (NYSE:CX) had its price objective trimmed by Royal Bank of Canada from $6.00 to $5.00 in a report published on Monday,Benzinga reports. The brokerage currently has an underperform rating on the construction company’s stock.

A number of other analysts have also commented on CX. StockNews.com lowered CEMEX from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. The Goldman Sachs Group upped their price target on CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Morgan Stanley cut CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, CEMEX presently has a consensus rating of “Hold” and a consensus price target of $7.65.

CEMEX Price Performance

Shares of NYSE:CX opened at $5.33 on Monday. CEMEX has a twelve month low of $4.89 and a twelve month high of $8.71. The stock’s 50 day moving average is $6.03 and its 200-day moving average is $5.81. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 8.46 and a beta of 1.28.

CEMEX (NYSE:CX) last released its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. Sell-side analysts forecast that CEMEX will post 0.69 EPS for the current fiscal year.

CEMEX Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were issued a $0.0207 dividend. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s dividend payout ratio (DPR) is presently 12.70%.

Hedge Funds Weigh In On CEMEX

Several institutional investors and hedge funds have recently bought and sold shares of CX. Dodge & Cox grew its holdings in CEMEX by 7,200.6% during the 4th quarter. Dodge & Cox now owns 49,622,009 shares of the construction company’s stock valued at $279,868,000 after buying an additional 48,942,309 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CEMEX by 30.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,745,819 shares of the construction company’s stock valued at $229,806,000 after purchasing an additional 9,541,622 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of CEMEX by 3.2% during the 4th quarter. Lazard Asset Management LLC now owns 36,836,513 shares of the construction company’s stock valued at $207,757,000 after buying an additional 1,127,293 shares in the last quarter. Schroder Investment Management Group lifted its position in CEMEX by 745.6% in the 4th quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company’s stock worth $150,809,000 after buying an additional 23,576,914 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its stake in CEMEX by 33.7% in the fourth quarter. Brandes Investment Partners LP now owns 24,233,835 shares of the construction company’s stock worth $136,679,000 after buying an additional 6,110,857 shares in the last quarter. 82.97% of the stock is owned by 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 and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.