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 published on Tuesday morning, Marketbeat reports.

Several other research analysts also recently weighed in on CX. Bradesco Corretora set a $7.50 price objective on shares of CEMEX and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Morgan Stanley lowered shares of CEMEX from an "overweight" rating to an "equal weight" rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. raised their price target on shares of 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 stock an "underperform" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen raised CEMEX from a "hold" rating to a "buy" rating in a research note on Saturday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $7.58.

CEMEX Stock Down 0.4%

Shares of CX traded down $0.03 during trading hours on Tuesday, hitting $6.79. The stock had a trading volume of 9,352,232 shares, compared to its average volume of 11,695,723. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a 50 day simple moving average of $6.09 and a 200-day simple moving average of $5.97. The firm has a market capitalization of $9.84 billion, a P/E ratio of 10.78 and a beta of 1.41. CEMEX has a 1-year low of $4.89 and a 1-year high of $7.34.

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

Hedge Funds Weigh In On CEMEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CX. IFP Advisors Inc grew its holdings in CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock valued at $28,000 after buying an additional 3,062 shares in the last quarter. Wayfinding Financial LLC purchased a new position in CEMEX during the first quarter valued at approximately $29,000. Jones Financial Companies Lllp increased its holdings in CEMEX by 334.7% during the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company's stock worth $52,000 after acquiring an additional 7,075 shares during the period. Barclays PLC lifted its stake in CEMEX by 56.2% in the 4th quarter. Barclays PLC now owns 9,759 shares of the construction company's stock worth $55,000 after purchasing an additional 3,510 shares in the last quarter. Finally, Townsquare Capital LLC purchased a new position in shares of CEMEX during the 4th quarter valued at $57,000. Institutional investors own 82.97% of the company's stock.

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.