JPMorgan Chase & Co. Forecasts Strong Price Appreciation for CEMEX (NYSE:CX) Stock

CEMEX (NYSE:CX - Free Report) had its price objective raised by JPMorgan Chase & Co. from $6.00 to $6.80 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company's stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of CEMEX from $6.00 to $5.00 and set an "underperform" rating on the stock in a report on Monday, April 14th. Bradesco Corretora set a $7.50 price objective on CEMEX and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. The Goldman Sachs Group increased their target price on CEMEX from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Morgan Stanley downgraded CEMEX from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, March 26th. Finally, StockNews.com cut CEMEX from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.58.

CEMEX Stock Up 0.9 %

Shares of NYSE:CX traded up $0.06 on Tuesday, reaching $6.16. The company had a trading volume of 6,399,995 shares, compared to its average volume of 10,896,584. The stock has a market capitalization of $8.92 billion, a P/E ratio of 9.77 and a beta of 1.41. The stock has a 50-day moving average price of $5.78 and a 200 day moving average price of $5.78. CEMEX has a twelve month low of $4.89 and a twelve month high of $8.11. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43.

CEMEX (NYSE:CX - Get Free Report) last posted its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. The firm had revenue of $186.46 million during the quarter, compared to analyst estimates of $214.59 million. On average, equities analysts expect that CEMEX will post 0.69 EPS for the current year.

CEMEX Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX's dividend payout ratio (DPR) is presently 8.33%.

Hedge Funds Weigh In On CEMEX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its stake in CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company's stock worth $38,000 after purchasing an additional 1,843 shares during the period. JPMorgan Chase & Co. boosted its stake in CEMEX by 123.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company's stock valued at $88,093,000 after buying an additional 7,986,204 shares in the last quarter. TCP Asset Management LLC bought a new stake in CEMEX in the fourth quarter valued at $242,000. Ballentine Partners LLC raised its stake in CEMEX by 15.0% during the fourth quarter. Ballentine Partners LLC now owns 34,210 shares of the construction company's stock worth $193,000 after acquiring an additional 4,474 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of CEMEX by 17.2% during the fourth quarter. Blue Trust Inc. now owns 50,636 shares of the construction company's stock valued at $309,000 after acquiring an additional 7,423 shares during the period. 82.97% of the stock is owned by institutional investors.

About CEMEX

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.