Cemex (NYSE:CX) Sets New 1-Year High - What's Next?

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

Analyst Upgrades and Downgrades

CX has been the topic of a number of recent research reports. Royal Bank Of Canada lifted 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. JPMorgan Chase & Co. lifted their price objective on Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Morgan Stanley cut Cemex from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, March 26th. Finally, Bradesco Corretora set a $7.50 price target on shares of Cemex and gave the company a "neutral" rating in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.58.

Cemex Stock Down 0.3%

The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 1.23 and a beta of 1.38. The firm has a 50 day simple moving average of $6.89 and a 200-day simple moving average of $6.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.60.

Cemex (NYSE:CX - Get Free Report) last announced its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. Cemex had a net margin of 8.84% and a return on equity of 6.47%. The business had revenue of $186.46 million during the quarter, compared to analysts' expectations of $214.59 million. On average, sell-side analysts forecast that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Dividend Announcement

The company also recently announced 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 1.21%. The ex-dividend date was Tuesday, June 17th. Cemex's dividend payout ratio (DPR) is currently 8.33%.

Institutional Investors Weigh In On Cemex

A number of large investors have recently bought and sold shares of CX. Wayfinding Financial LLC bought a new position in shares of Cemex in the first quarter worth about $29,000. Farther Finance Advisors LLC raised its position in Cemex by 63.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company's stock worth $36,000 after purchasing an additional 2,027 shares during the last quarter. Jones Financial Companies Lllp raised 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 worth $52,000 after purchasing an additional 7,075 shares during the last quarter. Barclays PLC lifted its holdings in Cemex by 56.2% during the 4th quarter. Barclays PLC now owns 9,759 shares of the construction company's stock worth $55,000 after buying an additional 3,510 shares in the last quarter. Finally, Townsquare Capital LLC bought a new position in Cemex in the 4th quarter valued at $57,000. 82.97% of the stock is currently 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.