Cemex (NYSE:CX) Reaches New 52-Week High - What's Next?

Shares of Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.37 and last traded at $7.37, with a volume of 2933087 shares. The stock had previously closed at $7.21.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CX shares. Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Royal Bank Of Canada boosted their price target on Cemex from $5.00 to $5.25 and gave the company an "underperform" rating in a report on Tuesday, April 29th. Morgan Stanley downgraded Cemex from an "overweight" rating to an "equal weight" rating in a report on Wednesday, March 26th. Bradesco Corretora set a $7.50 price target on Cemex and gave the company a "neutral" rating in a report on Tuesday, April 15th. Finally, Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a report on Saturday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $7.58.

Cemex Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.60 and a debt-to-equity ratio of 0.44. The stock has a market cap of $10.65 billion, a PE ratio of 7.66, a P/E/G ratio of 1.18 and a beta of 1.38. The business has a fifty day simple moving average of $6.82 and a two-hundred day simple moving average of $6.19.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. The company had revenue of $186.46 million for the quarter, compared to the consensus estimate of $214.59 million. Cemex had a return on equity of 6.47% and a net margin of 8.84%. Research analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid a $0.0224 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.09 annualized dividend and a dividend yield of 1.22%. Cemex's payout ratio is currently 8.33%.

Institutional Trading of Cemex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in Cemex in the 1st quarter valued at approximately $27,123,000. Everstar Asset Management LLC lifted its position in Cemex by 189.4% in the 1st quarter. Everstar Asset Management LLC now owns 42,783 shares of the construction company's stock valued at $240,000 after acquiring an additional 28,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Cemex by 58.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company's stock valued at $40,320,000 after acquiring an additional 2,661,030 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Cemex by 334.7% in the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company's stock valued at $52,000 after acquiring an additional 7,075 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. bought a new position in Cemex in the 1st quarter valued at approximately $60,000. 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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