Cemex (NYSE:CX) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Wall Street Zen upgraded Cemex from a "buy" to a strong-buy rating in a report issued on Saturday.
• Cemex beat expectations last quarter with $0.16 EPS versus a $0.12 estimate and $4.02B in revenue versus $3.86B, prompting banks like Scotiabank and JPMorgan to raise target prices and leaving a MarketBeat consensus of "Moderate Buy" with a $12.77 target.
• Shares opened at $12.37 (down 1.1%), the company has a market cap of $17.92B and a P/E of 38.65, a 52-week range of $5.57–$13.35, and roughly 83% of stock held by institutions.

Cemex (NYSE:CX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

CX has been the topic of a number of other research reports. Scotiabank raised their target price on Cemex from $13.90 to $14.10 and gave the company an "outperform" rating in a report on Friday, April 10th. Royal Bank Of Canada restated a "sector perform" rating and issued a $12.75 target price on shares of Cemex in a report on Friday. JPMorgan Chase & Co. raised their target price on Cemex from $14.00 to $14.50 and gave the company an "overweight" rating in a report on Friday. Barclays restated an "overweight" rating on shares of Cemex in a report on Thursday, March 12th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Cemex in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.77.

Cemex Stock Down 1.1%

Shares of NYSE:CX opened at $12.37 on Friday. The business's 50 day simple moving average is $11.55 and its two-hundred day simple moving average is $11.28. The firm has a market cap of $17.92 billion, a P/E ratio of 38.65 and a beta of 1.60. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 0.83. Cemex has a 52-week low of $5.57 and a 52-week high of $13.35.

Cemex (NYSE:CX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The construction company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. Cemex had a return on equity of 3.62% and a net margin of 2.74%.The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.86 billion. As a group, research analysts forecast that Cemex will post 0.85 EPS for the current fiscal year.

Institutional Trading of Cemex

Institutional investors and hedge funds have recently modified their holdings of the business. WealthCollab LLC increased its position in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock valued at $26,000 after acquiring 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 second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock valued at $30,000 after acquiring an additional 3,093 shares during the last quarter. Ameriflex Group Inc. increased its position in shares of Cemex by 100.0% during the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company's stock valued at $31,000 after acquiring an additional 1,744 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Cemex during the fourth quarter valued at approximately $34,000. Finally, Reyes Financial Architecture Inc. purchased a new stake in shares of Cemex during the third quarter valued at approximately $36,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

About Cemex

Cemex NYSE: CX is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex's product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.

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