Cemex S.A.B. de C.V. (NYSE:CX) Stock Has Average Target Price of $13.92

Cemex S.A.B. de C.V. (NYSE:CX) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $13.92.

A number of equities analysts have recently commented on CX shares. Citigroup raised Cemex from a “neutral” rating to a “buy” rating and cut their price target for the stock from $13.70 to $12.00 in a report on Thursday, October 15th. Weiss Ratings upgraded Cemex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Barclays boosted their price objective on Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Zacks Research cut Cemex from a “hold” rating to a “strong sell” rating in a report on Thursday, October 22nd. Finally, Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st.

Insider Transactions at Cemex

In other news, EVP Mauricio Doehner sold 927,900 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $9.57, for a total value of $8,880,003.00. Following the sale, the executive vice president directly owned 584,930 shares of the company’s stock, valued at approximately $5,597,780.10. This represents a 61.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Zambrano Lozano acquired 400,800 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was purchased at an average price of $17.28 per share, with a total value of $6,925,824.00. Following the completion of the transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at $172,800,000. This trade represents a 4.18% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CX. Letko Brosseau & Associates Inc. grew its position in Cemex by 0.5% during the third quarter. Letko Brosseau & Associates Inc. now owns 3,612,075 shares of the construction company’s stock worth $34,351,000 after buying an additional 18,650 shares in the last quarter. R Squared Ltd increased its stake in Cemex by 57.8% in the 3rd quarter. R Squared Ltd now owns 34,304 shares of the construction company’s stock worth $326,000 after acquiring an additional 12,570 shares during the last quarter. Ethic Inc. purchased a new stake in shares of Cemex in the 3rd quarter valued at about $132,000. Integrity Alliance LLC. purchased a new stake in shares of Cemex in the 3rd quarter valued at about $112,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Cemex during the 3rd quarter valued at about $216,000. 82.97% of the stock is owned by institutional investors.

Cemex Stock Performance

NYSE CX opened at $11.10 on Thursday. The firm has a market cap of $16.08 billion, a P/E ratio of 22.31 and a beta of 1.59. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $10.22 and its 200-day moving average is $11.60. Cemex has a 12-month low of $9.30 and a 12-month high of $13.67.

Cemex (NYSE:CX) last released its quarterly earnings data on Sunday, October 25th. The construction company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Cemex had a net margin of 3.60% and a return on equity of 5.18%. The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.47 billion. Sell-side analysts predict that Cemex will post 0.87 earnings per share for the current year.

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.0312 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 1.1%. Cemex’s dividend payout ratio is currently 27.27%.

About Cemex

Cemex is a global building materials company headquartered in San Pedro Garza García, Mexico. Founded in Mexico in 1906, it has grown through expansion and acquisitions into an international supplier serving construction and infrastructure markets.

The company produces and sells cement, ready-mix concrete and aggregates, including sand and gravel. It also provides related building-materials and construction solutions, along with services such as logistics and materials delivery.

Cemex serves customers across the Americas, Europe, the Middle East, Africa and Asia.