Cemex S.A.B. de C.V. (NYSE:CX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $10.1438.

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Barclays raised their price target on Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Bank of America raised Cemex from a “neutral” rating to a “buy” rating and upped their price objective for the company from $10.00 to $10.80 in a research note on Wednesday, October 15th. Citigroup cut Cemex from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $9.00 to $10.00 in a research report on Monday, October 13th. Finally, 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 report on Tuesday, October 21st.

Institutional Trading of Cemex

Several hedge funds and other institutional investors have recently made changes to their positions in CX. Sequoia Financial Advisors LLC boosted its stake in shares of Cemex by 7.2% in the third quarter. Sequoia Financial Advisors LLC now owns 15,889 shares of the construction company’s stock valued at $143,000 after purchasing an additional 1,070 shares during the period. Ameriprise Financial Inc. increased its stake in Cemex by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock worth $2,875,000 after buying an additional 1,221 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Cemex by 5.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,201 shares of the construction company’s stock worth $218,000 after buying an additional 1,268 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Cemex by 3.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock valued at $387,000 after buying an additional 1,389 shares during the last quarter. Finally, WealthCollab LLC grew its stake in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after acquiring an additional 1,580 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Price Performance

Shares of NYSE CX opened at $12.28 on Friday. The stock has a market cap of $17.79 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.45 and a beta of 1.59. Cemex has a twelve month low of $4.89 and a twelve month high of $12.29. The stock has a 50 day moving average of $10.95 and a two-hundred day moving average of $9.44. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37.

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

Cemex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were given a dividend of $0.0224 per share. The ex-dividend date was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. Cemex’s dividend payout ratio is presently 9.68%.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.