Cemex SAB de CV (NYSE:CX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Cemex SAB de CV (NYSE:CX) from a hold rating to a sell rating in a research note released on Monday morning, Zacks.com reports.

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. “

Several other research firms have also issued reports on CX. Morgan Stanley upped their price target on shares of Thomson Reuters from $66.00 to $67.00 and gave the stock an overweight rating in a research report on Monday, April 29th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, April 30th. Finally, Goldman Sachs Group set a €11.00 ($12.79) price objective on shares of Suedzucker and gave the company a neutral rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $7.50.

CX traded up $0.07 during trading on Monday, reaching $4.05. The company had a trading volume of 8,801,300 shares, compared to its average volume of 6,928,402. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.47 and a current ratio of 0.66. Cemex SAB de CV has a 12 month low of $3.94 and a 12 month high of $7.60. The company’s fifty day moving average price is $4.19. The stock has a market capitalization of $5.99 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.64 and a beta of 1.48.

Cemex SAB de CV (NYSE:CX) last announced its quarterly earnings data on Thursday, April 25th. The construction company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.06). The business had revenue of $3.24 billion during the quarter. Cemex SAB de CV had a return on equity of 4.41% and a net margin of 3.97%. On average, research analysts expect that Cemex SAB de CV will post 0.43 EPS for the current fiscal year.

The company also recently disclosed an annual dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, June 14th were paid a dividend of $0.0499 per share. The ex-dividend date was Monday, June 17th. This represents a yield of 1.22%. Cemex SAB de CV’s payout ratio is 14.29%.

A number of institutional investors have recently made changes to their positions in CX. Rockefeller Capital Management L.P. grew its stake in Cemex SAB de CV by 84.5% during the first quarter. Rockefeller Capital Management L.P. now owns 9,591,506 shares of the construction company’s stock worth $44,504,000 after buying an additional 4,392,239 shares in the last quarter. Global Thematic Partners LLC lifted its holdings in shares of Cemex SAB de CV by 37.8% in the first quarter. Global Thematic Partners LLC now owns 15,425,705 shares of the construction company’s stock worth $71,575,000 after acquiring an additional 4,232,793 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Cemex SAB de CV by 1,262.1% in the fourth quarter. Millennium Management LLC now owns 3,916,823 shares of the construction company’s stock worth $18,879,000 after acquiring an additional 3,629,264 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Cemex SAB de CV by 5.7% in the first quarter. Brandes Investment Partners LP now owns 62,096,886 shares of the construction company’s stock worth $288,595,000 after acquiring an additional 3,346,999 shares during the last quarter. Finally, Hosking Partners LLP lifted its holdings in shares of Cemex SAB de CV by 29.9% in the first quarter. Hosking Partners LLP now owns 8,497,333 shares of the construction company’s stock worth $39,428,000 after acquiring an additional 1,956,235 shares during the last quarter. Hedge funds and other institutional investors own 32.28% of the company’s stock.

Cemex SAB de CV Company Profile

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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