Cemex (NYSE:CX) Raised to Buy at Wall Street Zen

Key Points

• Cemex was upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating improved investor sentiment.
• A number of major financial institutions have recently raised their price targets for Cemex, with JPMorgan Chase increasing their target from $8.10 to $10.50.
• The stock currently has a consensus rating of "Hold" and a price target of $9.02, with recent earnings showing a profit beat compared to analyst estimates.

Cemex (NYSE:CX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Sunday.

CX has been the subject of a number of other research reports. JPMorgan Chase & Co. upgraded Cemex from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. Scotiabank reiterated an "outperform" rating on shares of Cemex in a research report on Tuesday, September 2nd. Bank of America increased their price objective on Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Barclays increased their price objective on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.02.

Cemex Stock Performance

CX opened at $9.02 on Friday. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61. Cemex has a 1-year low of $4.89 and a 1-year high of $9.61. The business has a 50 day moving average price of $8.84 and a two-hundred day moving average price of $7.26.

Cemex (NYSE:CX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.20 billion. Research analysts predict that Cemex will post 0.69 EPS for the current fiscal year.

Institutional Trading of Cemex

A number of hedge funds have recently modified their holdings of CX. WealthCollab LLC raised its holdings in shares of 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 acquiring an additional 1,580 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Cemex during the first quarter worth $29,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock worth $30,000 after acquiring an additional 3,093 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company's stock worth $36,000 after acquiring an additional 2,027 shares in the last quarter. Finally, Militia Capital Partners LP purchased a new stake in shares of Cemex during the second quarter worth $46,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

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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