CEMEX (NYSE:CX) Price Target Lowered to $8.00 at Barclays

CEMEX (NYSE:CX) had its target price lowered by Barclays from $9.00 to $8.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

Several other analysts have also commented on CX. JPMorgan Chase & Co. lowered CEMEX from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $6.00 in a report on Tuesday. The Goldman Sachs Group started coverage on shares of CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 price objective on the stock. Royal Bank of Canada upgraded shares of CEMEX from an “underperform” rating to a “sector perform” rating and decreased their target price for the company from $9.00 to $6.50 in a research note on Tuesday, October 8th. Finally, StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.87.

CEMEX Price Performance

NYSE:CX opened at $5.23 on Tuesday. The firm’s fifty day moving average is $6.01 and its two-hundred day moving average is $6.65. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 17.43 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.65 and a current ratio of 0.98. CEMEX has a one year low of $5.18 and a one year high of $9.27.

CEMEX Cuts Dividend

The business also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were given a $0.021 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is 13.33%.

Institutional Trading of CEMEX

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in CEMEX in the 2nd quarter worth about $33,000. Allworth Financial LP increased its position in shares of CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,747 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in CEMEX in the 3rd quarter valued at $77,000. Thoroughbred Financial Services LLC purchased a new position in CEMEX in the 2nd quarter valued at $81,000. Finally, KCM Investment Advisors LLC acquired a new stake in CEMEX during the 1st quarter worth $91,000. Hedge funds and other 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.