Cemex S.A.B. de C.V. (NYSE:CX) Given Average Rating of "Hold" by Brokerages

Key Points

• Cemex S.A.B. de C.V. has received an average rating of "Hold" from nine analysts, with one sell recommendation, four holds, and four buys, alongside a twelve-month target price of $9.0214.
• The company recently reported a quarterly earnings per share (EPS) of $0.23, exceeding analysts’ estimates of $0.18, despite revenue of $4.13 billion falling short of the $4.20 billion estimate.
• Cemex declared a quarterly dividend of $0.0224 per share, translating to an annualized dividend yield of 1.0%, with a payout ratio currently at 7.84%.

Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) has earned an average rating of "Hold" from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $9.0214.

CX has been the subject of several research analyst reports. Scotiabank reiterated an "outperform" rating on shares of Cemex in a research report on Tuesday. Barclays boosted 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. Wall Street Zen raised shares of Cemex from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Bank of America boosted their price target on Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd.

Cemex Trading Up 2.0%

CX opened at $9.42 on Friday. The stock has a market cap of $13.64 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 1.49 and a beta of 1.43. The stock's 50 day moving average price is $8.24 and its 200-day moving average price is $6.94. Cemex has a one year low of $4.89 and a one year high of $9.44. 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 issued its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.20 billion. On average, equities analysts forecast that Cemex will post 0.69 EPS for the current year.

Cemex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. Cemex's dividend payout ratio is presently 7.84%.

Institutional Trading of Cemex

A number of hedge funds have recently added to or reduced their stakes in CX. WealthCollab LLC increased its position in 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 period. Wayfinding Financial LLC bought a new position in shares of Cemex during the first quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 purchasing an additional 3,093 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in 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 buying an additional 2,027 shares during the period. Finally, Militia Capital Partners LP bought a new position in Cemex in the second quarter worth approximately $46,000. 82.97% of the stock is owned by hedge funds and other 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.

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