Cemex S.A.B. de C.V. (NYSE:CX) Receives $10.52 Consensus PT from Brokerages

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.0389.

CX has been the topic of a number of recent research reports. Citigroup cut shares of Cemex from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $9.00 to $10.00 in a report on Monday, October 13th. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. HSBC lowered Cemex from a “buy” rating to a “hold” rating and set a $12.80 price objective for the company. in a research report on Friday. Royal Bank Of Canada boosted their target price on Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group raised their price target on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, October 17th.

Institutional Investors Weigh In On Cemex

Institutional investors have recently made changes to their positions in the company. Ameriflex Group Inc. lifted its position in Cemex by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock valued at $31,000 after acquiring an additional 1,744 shares in the last quarter. WealthCollab LLC increased its holdings in shares of Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after purchasing an additional 1,580 shares in the last quarter. Reyes Financial Architecture Inc. purchased a new position in shares of Cemex in the third quarter worth $36,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after purchasing an additional 3,093 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after purchasing an additional 2,027 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Stock Performance

Shares of Cemex stock opened at $12.24 on Tuesday. Cemex has a 12 month low of $4.89 and a 12 month high of $13.35. The firm has a market capitalization of $17.73 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.83 and a beta of 1.61. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $11.93 and a two-hundred day simple moving average of $10.24.

Cemex (NYSE:CX) last released its earnings results on Thursday, February 5th. The construction company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.38). Cemex had a return on equity of 2.85% and a net margin of 5.93%.The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.01 billion. On average, equities analysts forecast that Cemex will post 0.69 earnings per share for the current fiscal year.

Cemex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were issued a $0.0224 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.09 annualized dividend and a yield of 0.7%. Cemex’s payout ratio is 9.68%.

About Cemex

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.