Cemex (NYSE:CX) Posts Earnings Results, Meets Expectations

Key Points

• Cemex reported quarterly earnings of $0.24 per share, exactly matching Wall Street’s consensus estimate. The company posted a 3.64% return on equity and a 2.74% net margin.
• The stock fell on the day of the report, trading at $12.32 after being down $0.40, with volume below its average. Cemex’s shares have traded between $7.86 and $13.67 over the past year.
• Cemex also raised its quarterly dividend to $0.0312 per share from $0.02, implying a 1.0% yield. Meanwhile, analysts remain cautiously positive, with a Moderate Buy consensus and an average price target of $12.87.

Cemex (NYSE:CX - Get Free Report) announced its quarterly earnings results on Thursday. The construction company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24, Zacks reports. Cemex had a return on equity of 3.64% and a net margin of 2.74%.

Cemex Stock Performance

Shares of Cemex stock traded down $0.40 during trading on Thursday, reaching $12.32. The company's stock had a trading volume of 4,914,536 shares, compared to its average volume of 5,959,956. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 0.87. The business's fifty day moving average price is $12.60 and its 200-day moving average price is $12.22. The firm has a market cap of $17.86 billion, a price-to-earnings ratio of 38.48 and a beta of 1.52. Cemex has a one year low of $7.86 and a one year high of $13.67.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th were given a $0.0312 dividend. This is an increase from Cemex's previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 17th. Cemex's dividend payout ratio (DPR) is 37.50%.

Insider Buying and Selling at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total value of $425,600.00. Following the completion of the sale, the insider directly owned 846,010 shares of the company's stock, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Cemex

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in shares of Cemex during the fourth quarter valued at about $34,000. WealthCollab LLC grew its position 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 in the last quarter. Northwestern Mutual Wealth Management Co. increased 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 valued at $30,000 after acquiring an additional 3,093 shares during the period. Militia Capital Partners LP bought a new position in Cemex during the second quarter valued at about $46,000. Finally, Inspire Investing LLC acquired a new position in Cemex in the 4th quarter valued at approximately $103,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CX. Weiss Ratings reiterated a "hold (c-)" rating on shares of Cemex in a report on Tuesday, May 26th. Santander upgraded shares of Cemex to an "outperform" rating in a report on Thursday, June 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $12.75 price target on shares of Cemex in a report on Friday, April 24th. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Finally, JPMorgan Chase & Co. upped their target price on Cemex from $14.50 to $15.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.87.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.