Wall Street Zen Downgrades Cemex (NYSE:CX) to Hold

Cemex (NYSE:CX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada lifted their price objective on shares of Cemex from $5.00 to $5.25 and gave the stock an “underperform” rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. lifted their price objective on Cemex from $6.00 to $6.80 and gave the company a “neutral” rating in a report on Tuesday, April 29th. Bradesco Corretora set a $7.50 target price on Cemex and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Morgan Stanley cut Cemex from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. Finally, Barclays reaffirmed an “overweight” rating and set a $9.00 price objective (up previously from $8.00) on shares of Cemex in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.74.

Cemex Stock Down 1.4%

NYSE:CX opened at $7.63 on Friday. The stock has a 50-day moving average price of $7.01 and a two-hundred day moving average price of $6.30. Cemex has a 1 year low of $4.89 and a 1 year high of $7.80. The company has a current ratio of 0.85, a quick ratio of 0.60 and a debt-to-equity ratio of 0.44. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.25 and a beta of 1.38.

Cemex (NYSE:CX) last announced 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 during the quarter, compared to analysts’ expectations of $214.59 million. Cemex had a net margin of 8.84% and a return on equity of 6.47%. As a group, equities analysts expect that Cemex will post 0.69 earnings per share for the current year.

Institutional Trading of Cemex

A number of hedge funds and other institutional investors have recently bought and sold shares of CX. Robeco Institutional Asset Management B.V. lifted its holdings in Cemex by 5.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 6,727,119 shares of the construction company’s stock worth $46,619,000 after acquiring an additional 332,914 shares during the period. Kathmere Capital Management LLC purchased a new stake in shares of Cemex in the second quarter worth $109,000. Ballentine Partners LLC increased its stake in Cemex by 13.7% in the second quarter. Ballentine Partners LLC now owns 33,213 shares of the construction company’s stock valued at $230,000 after acquiring an additional 4,002 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after purchasing an additional 2,027 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Cemex in the 1st quarter worth about $27,123,000. 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.