Cemex (NYSE:CX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cemex (NYSE:CX) had its target price upped by JPMorgan Chase & Co. from $14.00 to $14.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 17.25% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a report on Wednesday, January 21st. HSBC downgraded shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 price target on the stock. in a report on Friday, February 6th. Scotiabank lifted their price target on shares of Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a report on Friday, April 10th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.75 price target on shares of Cemex in a report on Friday. Finally, Zacks Research cut shares of Cemex from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.77.

Cemex Stock Performance

Shares of NYSE CX opened at $12.37 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 0.83. The company has a market cap of $17.92 billion, a P/E ratio of 38.65 and a beta of 1.60. The firm’s fifty day moving average is $11.55 and its two-hundred day moving average is $11.30. Cemex has a 52-week low of $5.57 and a 52-week high of $13.35.

Cemex (NYSE:CX) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.86 billion. Cemex had a net margin of 2.74% and a return on equity of 3.62%. As a group, analysts anticipate that Cemex will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Cemex

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its stake in shares of Cemex by 5.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock worth $193,000 after buying an additional 913 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of 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 purchasing an additional 1,221 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Cemex by 5.5% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,201 shares of the construction company’s stock worth $218,000 after purchasing an additional 1,268 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cemex by 4.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock worth $329,000 after purchasing an additional 1,288 shares during the period. Finally, Ieq Capital LLC boosted its stake in shares of Cemex by 7.6% during the 4th quarter. Ieq Capital LLC now owns 19,598 shares of the construction company’s stock worth $225,000 after purchasing an additional 1,380 shares during the period. 82.97% of the stock is owned by hedge funds and other 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.