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

Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.56 and last traded at $7.56, with a volume of 1680545 shares traded. The stock had previously closed at $7.37.

Analyst Upgrades and Downgrades

CX has been the subject of several recent research reports. Royal Bank Of Canada upped their price objective on Cemex from $5.00 to $5.25 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. Morgan Stanley cut Cemex from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, March 26th. Itau BBA Securities cut shares of Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Barclays restated an "overweight" rating and set a $9.00 target price (up previously from $8.00) on shares of Cemex in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.74.

Cemex Stock Down 1.4%

The firm has a 50-day moving average of $6.98 and a 200 day moving average of $6.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.60. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.21 and a beta of 1.38.

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

Cemex Dividend Announcement

The company 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. The ex-dividend date was Tuesday, June 17th. This represents a $0.09 annualized dividend and a yield of 1.17%. Cemex's payout ratio is currently 8.33%.

Institutional Trading of Cemex

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Cemex during the 4th quarter worth $1,427,000. PNC Financial Services Group Inc. increased its stake in Cemex by 93.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 34,693 shares of the construction company's stock worth $196,000 after acquiring an additional 16,736 shares during the period. Avantax Advisory Services Inc. increased its stake in Cemex by 32.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 14,550 shares of the construction company's stock worth $82,000 after acquiring an additional 3,558 shares during the period. Natixis Advisors LLC increased its stake in Cemex by 13.6% during the 4th quarter. Natixis Advisors LLC now owns 358,776 shares of the construction company's stock worth $2,023,000 after acquiring an additional 43,089 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Cemex by 26.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company's stock worth $73,000 after acquiring an additional 2,720 shares during the period. 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.