Brokerages Set CEMEX, S.A.B. de C.V. (NYSE:CX) Price Target at $7.82

Shares of CEMEX, S.A.B. de C.V. (NYSE:CX) have earned an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $7.82.

Several brokerages have recently issued reports on CX. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. Barclays cut their price objective on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their price objective on shares of CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. Finally, Scotiabank cut their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research note on Tuesday, October 29th.

CEMEX Stock Performance

Shares of CX opened at $6.54 on Tuesday. CEMEX has a 1 year low of $5.00 and a 1 year high of $9.27. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 10.37 and a beta of 1.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. The firm has a fifty day moving average of $5.92 and a 200-day moving average of $5.91.

CEMEX (NYSE:CX) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. As a group, equities analysts anticipate that CEMEX will post 0.69 earnings per share for the current year.

CEMEX Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were given a $0.0207 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is presently 9.52%.

Institutional Investors Weigh In On CEMEX

Several hedge funds and other institutional investors have recently bought and sold shares of CX. Creative Planning raised its position in CEMEX by 13.7% in the third quarter. Creative Planning now owns 197,992 shares of the construction company’s stock worth $1,208,000 after acquiring an additional 23,896 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in CEMEX in the third quarter worth about $77,000. Inspire Advisors LLC raised its holdings in CEMEX by 37.8% during the 3rd quarter. Inspire Advisors LLC now owns 24,181 shares of the construction company’s stock worth $148,000 after buying an additional 6,628 shares during the period. Blue Trust Inc. raised its holdings in CEMEX by 138.0% during the 3rd quarter. Blue Trust Inc. now owns 43,213 shares of the construction company’s stock worth $276,000 after buying an additional 25,057 shares during the period. Finally, Carrhae Capital LLP acquired a new stake in CEMEX during the 3rd quarter worth about $11,374,000. 82.97% of the stock is currently owned by institutional investors.

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.