Cemex (NYSE:CX) Announces Earnings Results, Beats Estimates 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) posted its earnings results on Thursday. The construction company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.05, Zacks reports. The business had revenue of $4.13 billion for 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%.

Cemex Stock Performance

NYSE CX traded down $0.11 on Wednesday, reaching $8.54. 6,784,819 shares of the stock were exchanged, compared to its average volume of 12,879,435. The company's 50-day simple moving average is $7.20 and its two-hundred day simple moving average is $6.42. Cemex has a one year low of $4.89 and a one year high of $8.70. 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 $12.37 billion, a PE ratio of 8.38, a PEG ratio of 0.90 and a beta of 1.38.

Cemex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Tuesday, June 17th. Cemex's payout ratio is 7.84%.

Institutional Trading of Cemex

An institutional investor recently raised its position 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% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,189 shares of the construction company's stock after purchasing an additional 7,075 shares during the period. Jones Financial Companies Lllp's holdings in Cemex were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

CX has been the subject of several analyst reports. Bradesco Corretora set a $7.50 price target on shares of Cemex and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada boosted their price objective on shares of Cemex from $5.00 to $5.25 and gave the company an "underperform" rating in a report on Tuesday, April 29th. Wall Street Zen cut shares of Cemex from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Barclays boosted 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cemex from $6.00 to $6.80 and gave the company a "neutral" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.91.

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.