Cemex S.A.B. de C.V. (NYSE:CX) Receives $13.07 Consensus PT from Analysts

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $13.0667.

A number of equities research analysts recently commented on CX shares. Santander raised shares of Cemex to an “outperform” rating in a research note on Thursday, June 11th. Barclays raised their price objective on shares of Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Wall Street Zen cut Cemex from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada boosted their target price on shares of Cemex from $12.75 to $13.50 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Cemex in a report on Friday, August 21st.

Insider Activity

In related news, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $10.68, for a total value of $2,271,422.40. Following the sale, the vice president directly owned 289,490 shares of the company’s stock, valued at approximately $3,091,753.20. This trade represents a 42.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Cemex

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised its holdings in Cemex by 7.4% in the first quarter. Sei Investments Co. now owns 4,150,537 shares of the construction company’s stock valued at $47,482,000 after buying an additional 287,350 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Cemex by 3.1% in the fourth quarter. BNP Paribas Financial Markets now owns 4,136,409 shares of the construction company’s stock worth $47,527,000 after buying an additional 124,420 shares during the period. Lazard Asset Management LLC grew its stake in shares of Cemex by 14.4% in the first quarter. Lazard Asset Management LLC now owns 4,046,527 shares of the construction company’s stock valued at $46,292,000 after buying an additional 508,016 shares in the last quarter. Letko Brosseau & Associates Inc. grew its stake in shares of Cemex by 3.4% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 3,823,500 shares of the construction company’s stock valued at $43,932,000 after buying an additional 125,975 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Cemex by 1,747.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,646,000 shares of the construction company’s stock valued at $41,710,000 after purchasing an additional 3,448,600 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Price Performance

Shares of NYSE CX opened at $10.07 on Wednesday. The firm has a market capitalization of $14.60 billion, a P/E ratio of 29.63 and a beta of 1.52. Cemex has a one year low of $8.73 and a one year high of $13.67. The company’s fifty day moving average is $11.36 and its two-hundred day moving average is $11.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92.

Cemex (NYSE:CX) last announced its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 EPS for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. The firm had revenue of $4.59 billion during the quarter. Analysts forecast that Cemex will post 0.91 EPS for the current fiscal year.

Cemex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0312 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 15th. Cemex’s dividend payout ratio is presently 35.29%.

About Cemex

CEMEX, SAB. de C.V. (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. Its primary businesses include the production, distribution and sale of cement, ready-mix concrete and aggregates, which are used in residential, commercial and infrastructure construction.

The company also provides urbanization and building solutions, including paving materials, concrete products and related services intended to support construction projects from planning through completion.