CEMEX (NYSE:CX) Hits New 1-Year Low – Here’s What Happened

CEMEX, S.A.B. de C.V. (NYSE:CX)’s stock price hit a new 52-week low on Friday . The company traded as low as $4.97 and last traded at $5.10, with a volume of 6541374 shares changing hands. The stock had previously closed at $5.56.

Analysts Set New Price Targets

CX has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on shares of CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a report on Monday, February 10th. The Goldman Sachs Group upped their price target on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley lowered CEMEX from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.82.

CEMEX Stock Down 7.3 %

The business’s 50 day simple moving average is $6.16 and its 200 day simple moving average is $5.88. The company has a market capitalization of $7.47 billion, a PE ratio of 8.18 and a beta of 1.28. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. As a group, analysts forecast that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were issued a dividend of $0.0207 per share. The ex-dividend date was Monday, March 10th. CEMEX’s dividend payout ratio is currently 12.70%.

Institutional Trading of CEMEX

Several hedge funds and other institutional investors have recently modified their holdings of CX. Barclays PLC lifted its holdings in shares of CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after buying an additional 1,843 shares during the last quarter. Cetera Investment Advisers grew its position in CEMEX by 8.4% in the fourth quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company’s stock worth $179,000 after acquiring an additional 2,452 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of CEMEX by 26.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company’s stock worth $73,000 after purchasing an additional 2,720 shares during the last quarter. Holistic Financial Partners raised its holdings in shares of CEMEX by 25.0% during the 4th quarter. Holistic Financial Partners now owns 13,933 shares of the construction company’s stock valued at $79,000 after purchasing an additional 2,787 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of CEMEX by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after buying an additional 3,062 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

About CEMEX

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.