Cemex (NYSE:CX) Stock Price Expected to Rise, Scotiabank Analyst Says

Cemex (NYSE:CX) had its target price lifted by stock analysts at Scotiabank from $13.90 to $14.10 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the construction company’s stock. Scotiabank’s target price suggests a potential upside of 18.24% from the stock’s current price.

A number of other analysts have also recently commented on CX. Morgan Stanley upgraded shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a report on Monday, March 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. HSBC downgraded shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 price objective on the stock. in a research report on Friday, February 6th. Zacks Research downgraded shares of Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Barclays reissued an “overweight” rating on shares of Cemex in a research report on Thursday, March 12th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cemex has a consensus rating of “Hold” and a consensus target price of $11.40.

Cemex Stock Performance

Shares of CX stock opened at $11.93 on Friday. Cemex has a 12 month low of $4.97 and a 12 month high of $13.35. The stock has a market cap of $17.28 billion, a PE ratio of 18.07 and a beta of 1.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.39. The company’s fifty day moving average price is $11.66 and its 200-day moving average price is $11.09.

Cemex (NYSE:CX) last announced its earnings results on Thursday, February 5th. The construction company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.38). Cemex had a net margin of 5.93% and a return on equity of 2.85%. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.01 billion. On average, equities analysts expect that Cemex will post 0.69 EPS for the current fiscal year.

Institutional Trading of Cemex

A number of large investors have recently made changes to their positions in CX. Jones Financial Companies Lllp grew its stake in shares of Cemex by 334.7% in the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after acquiring an additional 7,075 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Cemex by 58.8% in the first quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock worth $40,320,000 after acquiring an additional 2,661,030 shares during the period. Cetera Investment Advisers grew its stake in shares of Cemex by 53.2% in the second quarter. Cetera Investment Advisers now owns 57,269 shares of the construction company’s stock worth $397,000 after acquiring an additional 19,878 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after acquiring an additional 3,093 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Cemex by 57.1% in the second quarter. Invesco Ltd. now owns 50,480 shares of the construction company’s stock worth $350,000 after acquiring an additional 18,348 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Cemex Company Profile

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.