Cemex S.A.B. de C.V. (NYSE:CX) Receives Consensus Rating of “Hold” from Analysts

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $10.1438.

Several equities analysts have commented on CX shares. Scotiabank lowered Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 target price on the stock. in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Cemex from $7.00 to $8.25 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Bank of America upgraded shares of Cemex from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.00 to $10.80 in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. raised shares of Cemex from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $8.10 to $10.50 in a research report on Tuesday, August 26th.

Cemex Stock Performance

Cemex stock opened at $11.55 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.91 and a quick ratio of 0.67. The firm has a market capitalization of $16.74 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.23 and a beta of 1.61. Cemex has a 1-year low of $4.89 and a 1-year high of $11.57. The company’s 50-day moving average is $10.11 and its 200 day moving average is $8.82.

Cemex (NYSE:CX) last released its earnings results on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. Cemex had a return on equity of 6.85% and a net margin of 8.62%.The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $226.73 million. Research analysts forecast that Cemex will post 0.69 EPS for the current year.

Cemex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be given a dividend of $0.0224 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a yield of 0.8%. Cemex’s payout ratio is 9.68%.

Hedge Funds Weigh In On Cemex

A number of hedge funds and other institutional investors have recently made changes to their positions in CX. Bank of Montreal Can boosted its position in Cemex by 142.3% during the 2nd quarter. Bank of Montreal Can now owns 120,982 shares of the construction company’s stock valued at $838,000 after acquiring an additional 71,047 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Cemex by 9.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 813,753 shares of the construction company’s stock worth $5,639,000 after purchasing an additional 69,979 shares during the last quarter. Brandes Investment Partners LP boosted its position in Cemex by 7.7% during the second quarter. Brandes Investment Partners LP now owns 32,648,163 shares of the construction company’s stock valued at $226,252,000 after purchasing an additional 2,337,817 shares in the last quarter. Northern Trust Corp grew its stake in Cemex by 4.6% in the first quarter. Northern Trust Corp now owns 1,785,660 shares of the construction company’s stock valued at $10,018,000 after purchasing an additional 77,898 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Cemex by 2.9% in the first quarter. American Century Companies Inc. now owns 3,645,959 shares of the construction company’s stock valued at $20,454,000 after purchasing an additional 104,172 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

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.