CEMEX (NYSE:CX) Price Target Raised to $6.80

CEMEX (NYSE:CX) had its price target raised by JPMorgan Chase & Co. from $6.00 to $6.80 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley cut CEMEX from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 26th. Bradesco Corretora set a $7.50 price target on CEMEX and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Royal Bank of Canada dropped their price objective on CEMEX from $6.00 to $5.00 and set an “underperform” rating on the stock in a research note on Monday, April 14th. StockNews.com cut shares of CEMEX from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Finally, The Goldman Sachs Group upped their price target on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, CEMEX presently has an average rating of “Hold” and an average price target of $7.58.

CEMEX Stock Down 0.8 %

Shares of CEMEX stock opened at $6.12 on Tuesday. The firm has a market cap of $8.87 billion, a PE ratio of 9.71 and a beta of 1.28. The business’s 50 day simple moving average is $5.78 and its 200 day simple moving average is $5.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. CEMEX has a 52-week low of $4.89 and a 52-week high of $8.11.

CEMEX (NYSE:CX) last posted its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. The company had revenue of $186.46 million for the quarter, compared to the consensus estimate of $214.59 million. On average, analysts predict that CEMEX will post 0.69 earnings per share for the current fiscal year.

CEMEX Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were paid 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its position in shares of CEMEX by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after purchasing an additional 3,062 shares during the last quarter. Wayfinding Financial LLC acquired a new position in CEMEX in the 1st quarter valued at $29,000. Barclays PLC grew its holdings in CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after buying an additional 1,843 shares in the last quarter. Townsquare Capital LLC bought a new position in CEMEX during the 4th quarter worth $57,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of CEMEX during the fourth quarter worth $59,000. 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.