Barclays reiterated their overweight rating on shares of Cemex (NYSE:CX - Free Report) in a research report report published on Tuesday morning, MarketBeat reports. The brokerage currently has a $9.00 price objective on the construction company's stock, up from their previous price objective of $8.00.
A number of other research analysts have also recently commented on CX. JPMorgan Chase & Co. upped their price target on shares of Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. Itau BBA Securities cut shares of Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Cemex from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Morgan Stanley cut shares of Cemex from an "overweight" rating to an "equal weight" rating in a report on Wednesday, March 26th. Finally, Bradesco Corretora set a $7.50 price target on shares of Cemex and gave the company a "neutral" rating in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Cemex presently has a consensus rating of "Hold" and a consensus target price of $7.74.
Check Out Our Latest Research Report on CX
Cemex Trading Down 1.4%
Shares of CX traded down $0.11 during midday trading on Tuesday, hitting $7.63. The stock had a trading volume of 5,672,116 shares, compared to its average volume of 12,713,480. Cemex has a 1 year low of $4.89 and a 1 year high of $7.80. The firm has a market cap of $11.06 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 1.21 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 $6.98 and its 200 day moving average is $6.28.
Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 EPS for the quarter. The firm had revenue of $186.46 million for the quarter, compared to analysts' expectations of $214.59 million. Cemex had a net margin of 8.84% and a return on equity of 6.47%. As a group, analysts forecast that Cemex will post 0.69 EPS for the current fiscal year.
Cemex Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a $0.0224 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's payout ratio is currently 8.33%.
Hedge Funds Weigh In On Cemex
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wayfinding Financial LLC purchased a new position in Cemex during the 1st quarter worth approximately $29,000. Farther Finance Advisors LLC raised its position in Cemex by 63.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company's stock worth $36,000 after buying an additional 2,027 shares during the last quarter. Jones Financial Companies Lllp raised its position in Cemex by 334.7% during the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company's stock worth $52,000 after buying an additional 7,075 shares during the last quarter. Barclays PLC raised its position in Cemex by 56.2% during the 4th quarter. Barclays PLC now owns 9,759 shares of the construction company's stock worth $55,000 after buying an additional 3,510 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new position in Cemex during the 4th quarter worth approximately $57,000. 82.97% of the stock is owned by hedge funds and other institutional investors.
About Cemex
(
Get Free Report)
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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