Cemex (NYSE:CX) Price Target Raised to $13.50 at Royal Bank Of Canada

Cemex (NYSE:CX) had its target price boosted by Royal Bank Of Canada from $12.75 to $13.50 in a research report released on Friday morning, MarketBeat reports. Royal Bank Of Canada currently has a sector perform rating on the construction company’s stock.

CX has been the subject of several other reports. Scotiabank lifted their target price on Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. lifted their price target on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Santander raised Cemex to an “outperform” rating in a research note on Thursday, June 11th. Finally, Barclays lifted their target price on Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.07.

Cemex Trading Down 1.5%

CX opened at $12.07 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 35.52 and a beta of 1.52. The firm has a 50 day simple moving average of $12.57 and a 200 day simple moving average of $12.23. Cemex has a fifty-two week low of $8.15 and a fifty-two week high of $13.67.

Cemex (NYSE:CX) last posted its earnings results on Thursday, July 23rd. The construction company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. Cemex had a return on equity of 3.76% and a net margin of 2.83%.The business had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.46 billion. On average, sell-side analysts anticipate that Cemex will post 0.89 earnings per share for the current year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were paid a $0.0312 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This is a positive change from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a yield of 1.0%. Cemex’s payout ratio is 37.50%.

Insider Transactions at Cemex

In related news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total transaction of $425,600.00. Following the sale, the insider directly owned 846,010 shares of the company’s stock, valued at $10,287,481.60. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Cemex

Several institutional investors have recently added to or reduced their stakes in CX. WealthCollab LLC lifted its position 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 buying an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after acquiring an additional 3,093 shares during the last quarter. NFSG Corp boosted its stake in Cemex by 123.5% in the first quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,579 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Cemex in the 4th quarter valued at approximately $34,000. Finally, Militia Capital Partners LP acquired a new stake in shares of Cemex during the second quarter worth $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.