CEMEX (NYSE:CX) Downgraded by Itau BBA Securities to "Market Perform"

Itau BBA Securities downgraded shares of CEMEX (NYSE:CX - Free Report) from an outperform rating to a market perform rating in a report released on Tuesday morning, Marketbeat reports.

Several other brokerages have also issued reports on CX. The Goldman Sachs Group upped their target price on CEMEX from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Wall Street Zen raised CEMEX from a "hold" rating to a "buy" rating in a research note on Saturday, May 3rd. Bradesco Corretora set a $7.50 price objective on CEMEX and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Royal Bank of Canada increased their price objective on CEMEX from $5.00 to $5.25 and gave the company an "underperform" rating in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. increased their price objective on CEMEX from $6.00 to $6.80 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $7.58.

CEMEX Price Performance

CEMEX stock traded down $0.10 during midday trading on Tuesday, reaching $6.71. 8,920,378 shares of the stock were exchanged, compared to its average volume of 11,718,474. The company's fifty day moving average is $6.16 and its 200-day moving average is $5.99. The firm has a market cap of $9.72 billion, a PE ratio of 10.65 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. CEMEX has a 52 week low of $4.89 and a 52 week high of $7.34.

CEMEX (NYSE:CX - Get Free Report) last announced its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. The business had revenue of $186.46 million for the quarter, compared to the consensus estimate of $214.59 million. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. On average, sell-side analysts forecast that CEMEX will post 0.69 EPS for the current year.

Institutional Trading of CEMEX

Institutional investors and hedge funds have recently made changes to their positions in the business. Dodge & Cox increased its stake in CEMEX by 41.7% during the 1st quarter. Dodge & Cox now owns 70,320,800 shares of the construction company's stock valued at $394,500,000 after purchasing an additional 20,698,791 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CEMEX by 30.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,745,819 shares of the construction company's stock valued at $229,806,000 after buying an additional 9,541,622 shares in the last quarter. Lazard Asset Management LLC grew its holdings in CEMEX by 3.2% in the 4th quarter. Lazard Asset Management LLC now owns 36,836,513 shares of the construction company's stock valued at $207,757,000 after buying an additional 1,127,293 shares in the last quarter. Schroder Investment Management Group boosted its holdings in CEMEX by 745.6% in the 4th quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company's stock valued at $150,809,000 after purchasing an additional 23,576,914 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its holdings in CEMEX by 33.7% in the 4th quarter. Brandes Investment Partners LP now owns 24,233,835 shares of the construction company's stock valued at $136,679,000 after purchasing an additional 6,110,857 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

About CEMEX

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.