Cemex (NYSE:CX) Sets New 52-Week High - Here's Why

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) hit a new 52-week high during trading on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

CX has been the subject of a number of research reports. Barclays raised their price objective on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded Cemex from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. JPMorgan Chase & Co. raised their price objective on Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Royal Bank Of Canada raised their target price on Cemex from $5.00 to $5.25 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. Finally, Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Cemex has a consensus rating of "Hold" and an average target price of $7.91.

Cemex Price Performance

The company has a 50-day moving average of $7.61 and a 200 day moving average of $6.68. The firm has a market cap of $12.39 billion, a P/E ratio of 8.38, a P/E/G ratio of 0.91 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86.

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, 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 firm had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. On average, sell-side analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's dividend payout ratio (DPR) is currently 7.84%.

Institutional Investors Weigh In On Cemex

A number of hedge funds and other institutional investors have recently bought and sold shares of CX. WealthCollab LLC increased 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 buying an additional 1,580 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Cemex in the 1st quarter valued at $29,000. Northwestern Mutual Wealth Management Co. increased 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 buying an additional 3,093 shares during the period. Farther Finance Advisors LLC increased 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 buying an additional 2,027 shares during the period. Finally, Militia Capital Partners LP acquired a new stake in shares of Cemex in the 2nd quarter valued at $46,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.