Cemex (NYSE:CX) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Cemex from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy,” with seven Buy ratings and five Hold ratings.
• Analysts’ consensus price target is $13.07 versus Cemex’s reported opening price of $11.38; recent targets range from $13.50 at RBC to $16.00 at Barclays.
• Cemex reported quarterly EPS of $0.24 on revenue of $4.59 billion, while institutional investors own approximately 82.97% of the company’s stock.

Cemex (NYSE:CX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

CX has been the subject of several other research reports. Royal Bank Of Canada boosted their price objective 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. Weiss Ratings restated a "hold (c-)" rating on shares of Cemex in a research report on Tuesday, May 26th. JPMorgan Chase & Co. upped their price target on shares of Cemex from $14.50 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Santander raised shares of Cemex to an "outperform" rating in a report on Thursday, June 11th. Finally, Barclays increased their price objective on Cemex from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.07.

Cemex Trading Up 0.8%

Shares of Cemex stock opened at $11.38 on Friday. The stock has a market capitalization of $16.49 billion, a P/E ratio of 33.49 and a beta of 1.53. Cemex has a 52-week low of $8.44 and a 52-week high of $13.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92. The stock's 50-day simple moving average is $12.36 and its 200 day simple moving average is $12.19.

Cemex (NYSE:CX - Get Free Report) last posted its earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $4.59 billion for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. As a group, research analysts anticipate that Cemex will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in Cemex by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company's stock worth $193,000 after purchasing an additional 913 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Cemex by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company's stock valued at $2,875,000 after purchasing an additional 1,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cemex by 4.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company's stock worth $329,000 after acquiring an additional 1,288 shares in the last quarter. Ieq Capital LLC lifted its stake in Cemex by 7.6% during the fourth quarter. Ieq Capital LLC now owns 19,598 shares of the construction company's stock worth $225,000 after purchasing an additional 1,380 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in Cemex by 3.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company's stock valued at $387,000 after acquiring an additional 1,389 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Cemex Company Profile

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.

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