Cemex (NYSE:CX) Given New $11.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group raised its price target for Cemex from $10.00 to $11.00, indicating a potential upside of 14.05% from the stock's previous close.
• In addition to Goldman Sachs, several other analysts have issued mixed ratings with a consensus target price of $9.49, while five analysts rated the stock as a Buy.
• Cemex's latest quarterly earnings report showed an EPS of $0.23, surpassing expectations, despite revenues falling short of analyst estimates.

Cemex (NYSE:CX - Get Free Report) had its price objective upped by stock analysts at The Goldman Sachs Group from $10.00 to $11.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. The Goldman Sachs Group's target price points to a potential upside of 14.05% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. Bank of America upgraded shares of Cemex from a "neutral" rating to a "buy" rating and upped their price target for the company from $10.00 to $10.80 in a research note on Wednesday. Weiss Ratings restated a "hold (c)" rating on shares of Cemex in a research note on Wednesday, October 8th. Scotiabank reaffirmed an "outperform" rating on shares of Cemex in a report on Tuesday, September 2nd. Wall Street Zen downgraded shares of Cemex from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Finally, Barclays upped their price objective on shares of Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $9.49.

Cemex Stock Down 0.6%

Shares of NYSE CX traded down $0.06 during trading hours on Friday, hitting $9.65. 16,024,200 shares of the stock were exchanged, compared to its average volume of 12,284,320. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. The company has a market cap of $13.98 billion, a PE ratio of 9.45, a PEG ratio of 1.59 and a beta of 1.51. The firm has a fifty day moving average price of $9.10 and a 200-day moving average price of $7.56. Cemex has a 12 month low of $4.89 and a 12 month high of $9.97.

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

Hedge Funds Weigh In On Cemex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox lifted its holdings in Cemex by 35.1% during the second quarter. Dodge & Cox now owns 95,023,835 shares of the construction company's stock valued at $658,515,000 after purchasing an additional 24,703,035 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in Cemex by 7.7% during the second quarter. Brandes Investment Partners LP now owns 32,648,163 shares of the construction company's stock valued at $226,252,000 after purchasing an additional 2,337,817 shares in the last quarter. Orbis Allan Gray Ltd lifted its holdings in Cemex by 90.2% during the second quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company's stock valued at $182,263,000 after purchasing an additional 12,469,417 shares in the last quarter. Perpetual Ltd lifted its holdings in Cemex by 0.7% during the third quarter. Perpetual Ltd now owns 9,201,553 shares of the construction company's stock valued at $82,722,000 after purchasing an additional 61,633 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Cemex by 58.8% during the first quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company's stock valued at $40,320,000 after purchasing an additional 2,661,030 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.

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