Cemex (NYSE:CX) Reaches New 12-Month High - Time to Buy?

Key Points

• Cemex shares reached a **new 52-week high** of $9.55, indicating strong trading performance with a volume of over **1.14 million shares** exchanged.
• Recent analyst reports have resulted in **increased price targets**, with Barclays raising their target to **$10.00** and JPMorgan to **$10.50**, reflecting positive sentiment about the company's potential.
• Cemex declared a quarterly dividend of **$0.0224 per share**, set to be paid on September 25th, with an annualized yield of **0.9%** and a payout ratio of **8.82%**.

Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $9.55 and last traded at $9.52, with a volume of 1140585 shares trading hands. The stock had previously closed at $9.54.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Cemex from a "buy" rating to a "hold" rating in a research note on Saturday. Barclays upped their price objective on shares of Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Bank of America upped their price objective on shares of Cemex from $8.60 to $10.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Scotiabank reaffirmed an "outperform" rating on shares of Cemex in a research note on Tuesday, September 2nd. Finally, Itau BBA Securities cut shares of Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $9.02.

Cemex Stock Performance

The stock's 50 day moving average price is $8.68 and its 200 day moving average price is $7.15. 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 company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 1.50 and a beta of 1.43.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. Cemex had a net margin of 9.61% and a return on equity of 6.89%. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.20 billion. Analysts expect that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th will be paid a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 17th. Cemex's dividend payout ratio is currently 8.82%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. WealthCollab LLC grew its position in shares of Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock valued at $26,000 after acquiring an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock valued at $30,000 after acquiring an additional 3,093 shares during the period. Farther Finance Advisors LLC grew its position in shares of Cemex by 63.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company's stock valued at $36,000 after acquiring an additional 2,027 shares during the period. Wayfinding Financial LLC bought a new position in shares of Cemex in the 1st quarter valued at about $29,000. Finally, Militia Capital Partners LP bought a new position in shares of Cemex in the 2nd quarter valued at about $46,000. Institutional investors own 82.97% of the company's stock.

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.