Cemex (NYSE:CX) Stock Rating Lowered by Wall Street Zen

Key Points

• Cemex has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a more cautious outlook on the stock.
• The stock currently has a consensus rating of "Hold" with an average price target of $9.02, following various ratings adjustments from other analysts.
• Cemex’s stock opened at $9.06 with a market cap of $13.13 billion, reflecting its position within the construction materials industry amid varied institutional trading activities.

Wall Street Zen lowered shares of Cemex (NYSE:CX - Free Report) from a buy rating to a hold rating in a research report released on Saturday morning.

CX has been the topic of a number of other reports. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $8.10 to $10.50 in a report on Tuesday, August 26th. Barclays boosted their target price on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Bank of America boosted their target price on Cemex from $8.60 to $10.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Finally, Scotiabank restated an "outperform" rating on shares of Cemex in a research report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.02.

Cemex Stock Performance

CX traded up $0.14 on Friday, hitting $9.21. 5,112,140 shares of the stock traded hands, compared to its average volume of 12,663,202. Cemex has a 52 week low of $4.89 and a 52 week high of $9.61. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $13.34 billion, a PE ratio of 8.99, a P/E/G ratio of 1.46 and a beta of 1.43. The business has a fifty day moving average price of $8.68 and a two-hundred day moving average price of $7.16.

Cemex (NYSE:CX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. On average, research analysts predict that Cemex will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th will be issued a dividend of $0.0224 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.09 annualized dividend and a dividend yield of 1.0%. Cemex's dividend payout ratio (DPR) is currently 8.82%.

Hedge Funds Weigh In On Cemex

A number of hedge funds have recently modified their holdings of CX. WealthCollab LLC raised its stake in Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock worth $26,000 after buying an additional 1,580 shares during the last quarter. Wayfinding Financial LLC bought a new position in Cemex during the first quarter worth $29,000. Northwestern Mutual Wealth Management Co. raised its stake in Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock worth $30,000 after buying an additional 3,093 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company's stock worth $36,000 after buying an additional 2,027 shares during the last quarter. Finally, Militia Capital Partners LP bought a new position in Cemex during the second quarter worth $46,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Cemex Company Profile

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.