Cemex SAB de CV (CX) Cut to Sell at Zacks Investment Research

Cemex SAB de CV (NYSE:CX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “

A number of other research firms also recently commented on CX. BNP Paribas downgraded Cemex SAB de CV from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 31st. Exane BNP Paribas downgraded Cemex SAB de CV from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 31st. ValuEngine upgraded Cemex SAB de CV from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. set a $9.00 price target on Cemex SAB de CV and gave the stock a “buy” rating in a research note on Monday, September 24th. Finally, Citigroup set a $10.00 price target on Cemex SAB de CV and gave the stock a “buy” rating in a research note on Tuesday, September 4th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $9.14.

NYSE:CX traded down $0.08 during mid-day trading on Monday, reaching $6.34. The stock had a trading volume of 7,779,700 shares, compared to its average volume of 8,313,018. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. Cemex SAB de CV has a 1-year low of $5.72 and a 1-year high of $8.95. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.55 and a current ratio of 0.76.

Cemex SAB de CV (NYSE:CX) last posted its quarterly earnings results on Thursday, July 26th. The construction company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. The business had revenue of $3.80 billion during the quarter. Cemex SAB de CV had a return on equity of 5.46% and a net margin of 4.23%. On average, equities research analysts forecast that Cemex SAB de CV will post 0.55 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Zeke Capital Advisors LLC boosted its stake in Cemex SAB de CV by 4.7% in the second quarter. Zeke Capital Advisors LLC now owns 166,301 shares of the construction company’s stock valued at $1,091,000 after acquiring an additional 7,448 shares during the period. First Interstate Bank boosted its stake in Cemex SAB de CV by 96.4% in the second quarter. First Interstate Bank now owns 16,300 shares of the construction company’s stock valued at $107,000 after acquiring an additional 8,000 shares during the period. Formula Growth Ltd. boosted its stake in Cemex SAB de CV by 0.3% in the second quarter. Formula Growth Ltd. now owns 3,630,986 shares of the construction company’s stock valued at $23,819,000 after acquiring an additional 10,000 shares during the period. Todd Asset Management LLC boosted its stake in Cemex SAB de CV by 0.5% in the second quarter. Todd Asset Management LLC now owns 2,143,139 shares of the construction company’s stock valued at $14,059,000 after acquiring an additional 10,713 shares during the period. Finally, Natixis boosted its stake in Cemex SAB de CV by 53.8% in the second quarter. Natixis now owns 31,976 shares of the construction company’s stock valued at $210,000 after acquiring an additional 11,180 shares during the period. Institutional investors own 33.19% of the company’s stock.

About Cemex SAB de CV

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

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