Royal Bank Of Canada Raises Cemex (NYSE:CX) Price Target to $8.25

Cemex (NYSE:CX) had its price objective upped by equities research analysts at Royal Bank Of Canada from $7.00 to $8.25 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “underperform” rating on the construction company’s stock. Royal Bank Of Canada’s target price would indicate a potential downside of 18.60% from the stock’s previous close.

A number of other brokerages have also weighed in on CX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a report on Wednesday, October 8th. Wall Street Zen cut shares of Cemex from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup cut shares of Cemex from a “buy” rating to a “neutral” rating and upped their price target for the stock from $9.00 to $10.00 in a research note on Monday, October 13th. Scotiabank lowered shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 target price on the stock. in a research report on Tuesday, October 21st. Finally, Barclays upped their target price on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.14.

Cemex Stock Performance

NYSE CX opened at $10.14 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $9.29 and its two-hundred day moving average is $7.88. Cemex has a 12-month low of $4.89 and a 12-month high of $10.45. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.17 and a beta of 1.51.

Cemex (NYSE:CX) last released its earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.15. Cemex had a return on equity of 6.85% and a net margin of 8.62%.The company had revenue of $230.56 million for the quarter, compared to analysts’ expectations of $226.73 million. Research analysts expect that Cemex will post 0.69 EPS for the current year.

Institutional Trading of Cemex

A number of large investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Cemex by 137.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 31,252 shares of the construction company’s stock worth $175,000 after purchasing an additional 18,114 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Cemex by 21.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company’s stock worth $81,000 after purchasing an additional 2,505 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Cemex during the first quarter worth approximately $29,000. Envestnet Asset Management Inc. boosted its position in Cemex by 7.8% during the first quarter. Envestnet Asset Management Inc. now owns 772,764 shares of the construction company’s stock worth $4,335,000 after acquiring an additional 55,964 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Cemex by 7.4% during the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company’s stock worth $157,000 after acquiring an additional 1,906 shares during the last quarter. Institutional investors and hedge funds 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.