Cemex (NYSE:CX) Reaches New 1-Year High - Time to Buy?

Key Points

• Cemex's stock reached a new 52-week high of $8.83, closing at $8.78 with a trading volume of 2,382,648 shares.
• Analysts have mixed views on Cemex, with a consensus rating of "Hold" and an average price target of $7.91, indicating caution on the stock's immediate outlook.
• Cemex reported quarterly earnings of $0.23 per share, surpassing estimates, though its revenue of $4.13 billion fell short of expectations.

Shares of Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $8.83 and last traded at $8.78, with a volume of 2382648 shares traded. The stock had previously closed at $8.65.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Bradesco Corretora set a $7.50 target price on Cemex and gave the company a "neutral" rating in a report on Tuesday, April 15th. Wall Street Zen downgraded Cemex from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Royal Bank Of Canada increased their target price on Cemex from $5.00 to $5.25 and gave the company an "underperform" rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. Finally, Itau BBA Securities lowered shares of Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Cemex presently has a consensus rating of "Hold" and an average price target of $7.91.

Cemex Price Performance

The company has a market capitalization of $12.66 billion, a P/E ratio of 8.56, a P/E/G ratio of 0.92 and a beta of 1.40. The company has a 50 day moving average price of $7.46 and a 200 day moving average price of $6.61. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%. The business had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. On average, equities analysts predict 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 was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, June 17th. Cemex's dividend payout ratio is presently 7.84%.

Institutional Trading of Cemex

Institutional investors have recently modified their holdings of the business. LPL Financial LLC grew its stake in Cemex by 12.8% during the fourth quarter. LPL Financial LLC now owns 190,591 shares of the construction company's stock worth $1,075,000 after purchasing an additional 21,617 shares during the period. Vanguard Group Inc. boosted its position in shares of Cemex by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 3,863,502 shares of the construction company's stock worth $21,790,000 after purchasing an additional 53,269 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Cemex during the fourth quarter valued at approximately $63,000. Wells Fargo & Company MN raised its position in shares of Cemex by 4.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,142,193 shares of the construction company's stock worth $6,442,000 after purchasing an additional 51,967 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Cemex by 6.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 716,800 shares of the construction company's stock worth $4,043,000 after purchasing an additional 46,330 shares in the last quarter. 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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