Cemex (NYSE:CX) Rating Increased to Buy at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Cemex (NYSE:CX – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada increased their price target on shares of Cemex from $5.00 to $5.25 and gave the stock an “underperform” rating in a report on Tuesday, April 29th. Bradesco Corretora set a $7.50 price target on shares of Cemex and gave the stock a “neutral” rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. increased their price target on shares of Cemex from $6.00 to $6.80 and gave the stock a “neutral” rating in a report on Tuesday, April 29th. Itau BBA Securities cut shares of Cemex from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 3rd. Finally, Morgan Stanley cut shares of Cemex from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.58.

Get Our Latest Stock Analysis on Cemex

Cemex Trading Down 0.1%

NYSE CX opened at $7.39 on Friday. The stock has a market capitalization of $10.70 billion, a P/E ratio of 7.69, a P/E/G ratio of 1.23 and a beta of 1.38. Cemex has a 52-week low of $4.89 and a 52-week high of $7.50. The firm has a 50-day moving average price of $6.89 and a 200 day moving average price of $6.24. The company has a quick ratio of 0.60, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Cemex (NYSE:CX – Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $186.46 million during the quarter, compared to analysts’ expectations of $214.59 million. Cemex had a net margin of 8.84% and a return on equity of 6.47%. Equities research analysts expect that Cemex will post 0.69 EPS for the current year.

Cemex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were issued a $0.0224 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.09 dividend on an annualized basis and a yield of 1.21%. Cemex’s dividend payout ratio (DPR) is presently 8.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Dodge & Cox grew its position in shares of Cemex by 41.7% in the first quarter. Dodge & Cox now owns 70,320,800 shares of the construction company’s stock valued at $394,500,000 after purchasing an additional 20,698,791 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cemex by 30.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,745,819 shares of the construction company’s stock valued at $229,806,000 after purchasing an additional 9,541,622 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Cemex by 3.2% in the fourth quarter. Lazard Asset Management LLC now owns 36,836,513 shares of the construction company’s stock valued at $207,757,000 after purchasing an additional 1,127,293 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Cemex by 745.6% in the fourth quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company’s stock valued at $150,809,000 after purchasing an additional 23,576,914 shares during the last quarter. Finally, Brandes Investment Partners LP grew its position in shares of Cemex by 33.7% in the fourth quarter. Brandes Investment Partners LP now owns 24,233,835 shares of the construction company’s stock valued at $136,679,000 after purchasing an additional 6,110,857 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Cemex Company Profile

(Get Free Report)

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.

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