Cemex (NYSE:CX) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays has raised Cemex's target stock price from $9.00 to $10.00, indicating a potential upside of 17.91% from the stock's previous close and maintaining an "overweight" rating.
• Other brokerages have mixed opinions on Cemex, with some lowering their ratings and others adjusting price targets, showing a consensus rating of "Hold" with an average target of $7.91.
• Cemex reported a quarterly earnings result of $0.23 EPS, exceeding analysts' expectations of $0.18 EPS, while its revenue for the quarter was $4.13 billion, slightly below the consensus estimate of $4.20 billion.

Cemex (NYSE:CX - Get Free Report) had its price target increased by stock analysts at Barclays from $9.00 to $10.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the construction company's stock. Barclays's price target would indicate a potential upside of 17.16% from the company's current price.

CX has been the subject of a number of other reports. Itau BBA Securities cut Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Bradesco Corretora set a $7.50 price objective on Cemex and gave the company a "neutral" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price objective on Cemex from $6.00 to $6.80 and gave the company a "neutral" rating in a research report on Tuesday, April 29th. Royal Bank Of Canada boosted their price objective on Cemex from $5.00 to $5.25 and gave the company an "underperform" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen cut Cemex from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $7.91.

Cemex Stock Performance

CX stock traded down $0.17 during trading on Tuesday, hitting $8.54. 1,941,354 shares of the company traded hands, compared to its average volume of 12,877,071. The stock's 50-day simple moving average is $7.26 and its 200 day simple moving average is $6.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61. The company has a market cap of $12.37 billion, a PE ratio of 8.35, a P/E/G ratio of 0.91 and a beta of 1.38. Cemex has a 1 year low of $4.89 and a 1 year high of $8.79.

Cemex (NYSE:CX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The company had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. On average, equities analysts expect that Cemex will post 0.69 earnings per share for the current fiscal year.

Institutional Trading of Cemex

Institutional investors have recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in Cemex during the first quarter worth $29,000. Farther Finance Advisors LLC boosted its stake in Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company's stock worth $36,000 after buying an additional 2,027 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Cemex by 334.7% during the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company's stock worth $52,000 after buying an additional 7,075 shares during the last quarter. Barclays PLC boosted its stake in Cemex by 56.2% during the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company's stock worth $55,000 after buying an additional 3,510 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new position in Cemex during the fourth quarter worth $57,000. 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.