Barclays Issues Positive Forecast for Cemex (NYSE:CX) Stock Price

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 upped by Barclays from $9.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. Barclays's price objective suggests a potential upside of 19.33% from the stock's current price.

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

Cemex Stock Performance

Shares of NYSE CX traded down $0.32 during midday trading on Tuesday, reaching $8.38. The company had a trading volume of 19,212,194 shares, compared to its average volume of 12,108,242. The business's 50-day simple moving average is $7.29 and its 200 day simple moving average is $6.48. The stock has a market cap of $12.14 billion, a P/E ratio of 8.22, a P/E/G ratio of 0.93 and a beta of 1.40. Cemex has a 1 year low of $4.89 and a 1 year high of $8.79. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37.

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

Hedge Funds Weigh In On Cemex

Several hedge funds and other institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC raised its stake in Cemex by 7.3% during the second quarter. Yousif Capital Management LLC now owns 25,159 shares of the construction company's stock worth $174,000 after purchasing an additional 1,710 shares during the period. Legacy Wealth Asset Management LLC raised its stake in Cemex by 2.4% during the second quarter. Legacy Wealth Asset Management LLC now owns 79,800 shares of the construction company's stock worth $553,000 after purchasing an additional 1,843 shares during the period. Allworth Financial LP increased its position in shares of Cemex by 7.4% during the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company's stock valued at $157,000 after acquiring an additional 1,906 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company's stock valued at $36,000 after acquiring an additional 2,027 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Cemex by 16.2% during the second quarter. Sequoia Financial Advisors LLC now owns 14,819 shares of the construction company's stock valued at $103,000 after acquiring an additional 2,068 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other 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.