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

Cemex logo with Construction background

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.

Get Our Latest Research Report on CX

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

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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