Cemex (NYSE:CX) Reaches New 1-Year High - Here's What Happened

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) shares hit a new 52-week high during trading 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.

Analysts Set New Price Targets

CX has been the topic of a number of research analyst reports. Barclays raised their price target on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Scotiabank reissued an "outperform" rating on shares of Cemex in a report on Tuesday, September 2nd. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and raised their price target for the company from $8.10 to $10.50 in a report on Tuesday, August 26th. Wall Street Zen raised Cemex from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Itau BBA Securities cut 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 given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $9.02.

Cemex Price Performance

The stock has a market capitalization of $13.77 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. 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 stock has a 50-day simple moving average of $8.52 and a 200 day simple moving average of $7.07.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, topping 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. On average, equities research analysts forecast that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.9%. Cemex's dividend payout ratio (DPR) is 8.82%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. WealthCollab LLC raised its stake 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake 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 in the last quarter. Farther Finance Advisors LLC raised its stake 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 in the last quarter. Wayfinding Financial LLC bought a new position in shares of Cemex in the 1st quarter valued at approximately $29,000. Finally, Militia Capital Partners LP bought a new position in shares of Cemex in the 2nd quarter valued at approximately $46,000. 82.97% of the stock is owned by institutional investors.

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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