Cemex (NYSE:CX) Hits New 12-Month High – Here’s Why

Cemex S.A.B. de C.V. (NYSE:CX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $12.03 and last traded at $11.9450, with a volume of 2934040 shares changing hands. The stock had previously closed at $11.84.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CX. Bank of America raised Cemex from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $10.80 in a report on Wednesday, October 15th. Scotiabank downgraded shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price target on the stock. in a research note on Tuesday, October 21st. Citigroup cut shares of Cemex from a “buy” rating to a “neutral” rating and increased their price objective for the company from $9.00 to $10.00 in a research note on Monday, October 13th. Barclays raised their price objective on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada upped their target price on shares of Cemex from $7.00 to $8.25 and gave the company an “underperform” rating in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.14.

Cemex Price Performance

The company’s 50 day moving average price is $10.85 and its 200 day moving average price is $9.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.91. The company has a market cap of $17.28 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.46 and a beta of 1.59.

Cemex (NYSE:CX) last announced its quarterly earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.15. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $226.73 million. Cemex had a net margin of 8.62% and a return on equity of 6.85%. On average, equities research analysts predict that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were given a dividend of $0.0224 per share. The ex-dividend date was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a yield of 0.8%. Cemex’s dividend payout ratio is 9.68%.

Hedge Funds Weigh In On Cemex

A number of institutional investors and hedge funds have recently bought and sold shares of CX. Ameriflex Group Inc. increased its stake in shares of Cemex by 100.0% in the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock valued at $31,000 after buying an additional 1,744 shares in the last quarter. WealthCollab LLC grew its holdings in Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after acquiring an additional 1,580 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new stake in Cemex in the 3rd quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after acquiring an additional 3,093 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Cemex by 63.7% in the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after acquiring an additional 2,027 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.