CEMEX (NYSE:CX) Cut to “Buy” at StockNews.com

StockNews.com cut shares of CEMEX (NYSE:CX) from a strong-buy rating to a buy rating in a report released on Wednesday.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of CEMEX from $9.50 to $8.50 and set an overweight rating for the company in a research note on Monday, July 8th. Bank of America cut shares of CEMEX from a buy rating to a neutral rating and set a $9.00 price target for the company. in a research note on Wednesday, April 24th. Royal Bank of Canada started coverage on shares of CEMEX in a report on Tuesday, May 14th. They set an underperform rating and a $9.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of CEMEX in a report on Wednesday. They set a buy rating and a $9.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $9.24.

CEMEX Stock Up 0.6 %

CX stock opened at $6.88 on Wednesday. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 49.14 and a beta of 1.47. The company has a current ratio of 0.78, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54. CEMEX has a 12 month low of $5.67 and a 12 month high of $9.27. The firm has a 50-day moving average of $7.00 and a two-hundred day moving average of $7.73.

CEMEX (NYSE:CX) last released its quarterly earnings data on Monday, April 29th. The construction company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $4.14 billion during the quarter. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. During the same quarter in the previous year, the company posted $0.15 EPS. As a group, analysts forecast that CEMEX will post 0.85 earnings per share for the current fiscal year.

CEMEX Dividend Announcement

The company also recently disclosed a Variable dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were issued a $0.349 dividend. The ex-dividend date was Monday, June 17th. CEMEX’s payout ratio is 14.29%.

Institutional Investors Weigh In On CEMEX

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors raised its holdings in shares of CEMEX by 0.5% in the 4th quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock valued at $217,024,000 after purchasing an additional 152,587 shares in the last quarter. Principal Financial Group Inc. raised its stake in CEMEX by 7.9% during the 4th quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock worth $161,462,000 after acquiring an additional 1,521,007 shares in the last quarter. Schroder Investment Management Group raised its stake in CEMEX by 17.6% during the 4th quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock worth $76,262,000 after acquiring an additional 1,471,407 shares in the last quarter. American Century Companies Inc. raised its stake in CEMEX by 3.4% during the 3rd quarter. American Century Companies Inc. now owns 9,744,804 shares of the construction company’s stock worth $63,341,000 after acquiring an additional 318,541 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in CEMEX by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock worth $68,274,000 after acquiring an additional 94,790 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.