Cemex (NYSE:CX) Stock Rating Lowered by Wall Street Zen

Key Points

• Cemex's stock was downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment towards the company.
• Despite the downgrade, several analysts, including Barclays and JPMorgan, have raised their price targets for Cemex, indicating a potential bullish outlook among some investment firms.
• Cemex's current market capitalization stands at $13.26 billion, with a consensus target price from analysts set at approximately $9.02.

Cemex (NYSE:CX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other analysts also recently commented on CX. Barclays increased their price objective on shares of Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. raised shares of Cemex from a "neutral" rating to an "overweight" rating and raised their price target for the company from $8.10 to $10.50 in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cemex in a report on Wednesday. Bank of America raised their price target on shares of Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Cemex in a report on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Cemex presently has a consensus rating of "Hold" and a consensus target price of $9.02.

Cemex Stock Performance

Shares of CX stock opened at $9.15 on Friday. Cemex has a one year low of $4.89 and a one year high of $9.61. The company's 50-day moving average is $9.00 and its 200 day moving average is $7.46. The company has a market capitalization of $13.26 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86.

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

Hedge Funds Weigh In On Cemex

Large investors have recently modified their holdings of the stock. WealthCollab LLC increased its position in shares of Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock valued at $26,000 after purchasing an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock valued at $30,000 after purchasing an additional 3,093 shares during the last quarter. Farther Finance Advisors LLC grew its position in Cemex by 63.7% in the 2nd 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. Wayfinding Financial LLC bought a new position in Cemex in the 1st quarter valued at $29,000. Finally, Militia Capital Partners LP bought a new position in Cemex in the 2nd quarter valued at $46,000. 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.

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