CEMEX (NYSE:CX) Lowered to Market Perform Rating by Itau BBA Securities

Itau BBA Securities lowered shares of CEMEX (NYSE:CX) from an outperform rating to a market perform rating in a report released on Tuesday, Marketbeat reports.

CX has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on shares of CEMEX from $6.00 to $6.80 and gave the stock a “neutral” rating in a research report on Tuesday, April 29th. The Goldman Sachs Group lifted their price objective on CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Royal Bank of Canada lifted their price target on CEMEX from $5.00 to $5.25 and gave the stock an “underperform” rating in a research note on Tuesday, April 29th. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. Finally, Bradesco Corretora set a $7.50 target price on shares of CEMEX and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, CEMEX has an average rating of “Hold” and a consensus target price of $7.58.

CEMEX Stock Performance

Shares of NYSE CX opened at $6.81 on Tuesday. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 10.80 and a beta of 1.41. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. CEMEX has a 1-year low of $4.89 and a 1-year high of $7.34. The stock’s 50-day moving average is $6.09 and its 200 day moving average is $5.97.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its position in shares of CEMEX by 159.1% during the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after buying an additional 3,062 shares during the period. Natixis Advisors LLC increased its position in shares of CEMEX by 13.6% during the fourth quarter. Natixis Advisors LLC now owns 358,776 shares of the construction company’s stock valued at $2,023,000 after buying an additional 43,089 shares during the period. Vanguard Group Inc. increased its position in shares of CEMEX by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,863,502 shares of the construction company’s stock valued at $21,790,000 after buying an additional 53,269 shares during the period. QRG Capital Management Inc. grew its holdings in shares of CEMEX by 30.5% during the 4th quarter. QRG Capital Management Inc. now owns 30,937 shares of the construction company’s stock worth $174,000 after acquiring an additional 7,232 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of CEMEX during the 4th quarter worth approximately $63,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

About CEMEX

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.