Cemex (NYSE:CX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Cemex beat earnings expectations, reporting $0.16 EPS for the quarter vs. the $0.12 consensus (a $0.04 beat), with a return on equity of 2.85% and a net margin of 5.93%.
• Dividend was increased to $0.0225 per share for the quarter (up from $0.02), equal to a $0.09 annualized payout and a 0.7% yield with a 13.64% payout ratio.
• Shares and analyst view: the stock traded up to $12.52 (market cap $18.13B, P/E 18.98), while analysts are mixed — consensus rating is "Hold" with an average target of $11.83.

Cemex (NYSE:CX - Get Free Report) posted its quarterly earnings data on Thursday. The construction company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04, Zacks reports. Cemex had a return on equity of 2.85% and a net margin of 5.93%.

Cemex Stock Performance

NYSE:CX traded up $0.75 during mid-day trading on Thursday, reaching $12.52. The stock had a trading volume of 2,029,904 shares, compared to its average volume of 6,666,157. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 0.83. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 18.98 and a beta of 1.60. Cemex has a twelve month low of $5.57 and a twelve month high of $13.35. The business has a 50 day simple moving average of $11.55 and a 200 day simple moving average of $11.25.

Cemex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Wednesday, March 11th were given a $0.0225 dividend. The ex-dividend date was Wednesday, March 11th. This is an increase from Cemex's previous quarterly dividend of $0.02. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. Cemex's payout ratio is 13.64%.

Analyst Ratings Changes

CX has been the subject of several research analyst reports. HSBC downgraded Cemex from a "buy" rating to a "hold" rating and set a $12.80 price objective for the company. in a report on Friday, February 6th. Morgan Stanley upgraded shares of Cemex from an "equal weight" rating to an "overweight" rating and set a $14.00 target price for the company in a research note on Monday, March 23rd. Barclays reiterated an "overweight" rating on shares of Cemex in a research note on Thursday, March 12th. Zacks Research downgraded shares of Cemex from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 9th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Cemex in a research note on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cemex has a consensus rating of "Hold" and an average target price of $11.83.

Institutional Investors Weigh In On Cemex

Hedge funds and other institutional investors have recently bought and sold shares of the business. WealthCollab LLC lifted its holdings in Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock valued at $26,000 after acquiring an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock valued at $30,000 after acquiring an additional 3,093 shares during the period. Kestra Advisory Services LLC acquired a new stake in Cemex in the fourth quarter valued at $34,000. Militia Capital Partners LP acquired a new stake in Cemex in the second quarter valued at $46,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Cemex by 334.7% during 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 during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Cemex Company Profile

Cemex NYSE: CX is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex's product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.