Cemex (NYSE:CX) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Cemex (NYSE:CX) reported a quarterly earnings per share (EPS) of $0.23, beating estimates by $0.05, though it fell short on revenue with $4.13 billion reported against an expectation of $4.20 billion.
• The company declared a quarterly dividend of $0.0224 per share, with a dividend yield of 1.07% and a payout ratio of 8.33%.
• Analysts have mixed ratings on Cemex, with an average price target of $7.74; Barclays recently upgraded their target to $9.00, while other firms downgraded their ratings.

Cemex (NYSE:CX - Get Free Report) announced its earnings results on Thursday. The construction company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05, Zacks reports. The company had revenue of $4.13 billion for the quarter, compared to analysts' expectations of $4.20 billion. Cemex had a return on equity of 7.01% and a net margin of 9.61%.

Cemex Trading Up 1.8%

NYSE CX opened at $8.40 on Friday. The firm has a market cap of $12.17 billion, a P/E ratio of 8.23, a P/E/G ratio of 1.02 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.60. The stock's 50-day moving average is $7.13 and its 200-day moving average is $6.37. Cemex has a one year low of $4.89 and a one year high of $8.46.

Cemex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's dividend payout ratio is currently 8.33%.

Institutional Investors Weigh In On Cemex

A hedge fund recently raised its stake in Cemex stock. Jones Financial Companies Lllp raised its stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 334.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,189 shares of the construction company's stock after purchasing an additional 7,075 shares during the quarter. Jones Financial Companies Lllp's holdings in Cemex were worth $52,000 at the end of the most recent reporting period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CX has been the topic of several recent research reports. Barclays reiterated an "overweight" rating and issued a $9.00 price target (up previously from $8.00) on shares of Cemex in a report on Tuesday, July 15th. Wall Street Zen cut Cemex from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Royal Bank Of Canada increased their target price on Cemex from $5.00 to $5.25 and gave the company an "underperform" rating in a research note on Tuesday, April 29th. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Finally, Bradesco Corretora set a $7.50 target price on Cemex and gave the company a "neutral" rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $7.74.

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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