Cemex’s (CX) “Overweight” Rating Reiterated at Barclays

Barclays reaffirmed their overweight rating on shares of Cemex (NYSE:CX) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage currently has a $9.00 target price on the construction company’s stock, up from their previous target price of $8.00.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada lifted their price objective on Cemex from $5.00 to $5.25 and gave the company an “underperform” rating in a research note on Tuesday, April 29th. Morgan Stanley lowered Cemex from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Bradesco Corretora set a $7.50 target price on shares of Cemex and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cemex from $6.00 to $6.80 and gave the stock a “neutral” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.74.

Cemex Trading Up 5.2%

NYSE CX opened at $7.76 on Tuesday. The firm has a market capitalization of $11.24 billion, a PE ratio of 8.08, a P/E/G ratio of 1.21 and a beta of 1.38. The stock’s 50 day moving average is $6.98 and its 200 day moving average is $6.28. Cemex has a twelve month low of $4.89 and a twelve month high of $7.80. The company has a quick ratio of 0.60, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Cemex (NYSE:CX) last released its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share 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 8.84% and a return on equity of 6.47%. Research analysts forecast that Cemex will post 0.69 earnings per share for the current fiscal year.

Cemex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex’s dividend payout ratio is currently 8.33%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Cemex during the 1st quarter worth approximately $29,000. Farther Finance Advisors LLC raised its stake in shares of Cemex by 63.7% in the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after acquiring an additional 2,027 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Cemex by 334.7% during the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock valued at $52,000 after buying an additional 7,075 shares during the period. Barclays PLC lifted its position in shares of Cemex by 56.2% during the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company’s stock worth $55,000 after purchasing an additional 3,510 shares during the last quarter. Finally, Townsquare Capital LLC bought a new stake in Cemex during the 4th quarter valued at about $57,000. Institutional investors own 82.97% of the company’s stock.

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.