Cemex S.A.B. de C.V. (NYSE:CX) Receives $9.02 Average Price Target from Analysts

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 been assigned an average rating of "Hold" from the nine research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $9.0214.

A number of analysts have recently weighed in on CX shares. Itau BBA Securities cut Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Barclays increased their target price on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Bank of America boosted 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. Scotiabank restated an "outperform" rating on shares of Cemex in a research report on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Cemex from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th.

Cemex Stock Performance

Shares of Cemex stock traded up $0.30 during trading hours on Friday, reaching $9.48. The company's stock had a trading volume of 9,536,622 shares, compared to its average volume of 11,374,110. Cemex has a one year low of $4.89 and a one year high of $9.55. The company's 50 day simple moving average is $8.43 and its 200 day simple moving average is $7.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86. The stock has a market cap of $13.73 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.43.

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

Cemex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th will be issued a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 17th. Cemex's payout ratio is 8.82%.

Institutional Trading of Cemex

Several large investors have recently added to or reduced their stakes in CX. WealthCollab LLC grew its holdings 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 buying an additional 1,580 shares in the last quarter. Yousif Capital Management LLC boosted its position in Cemex by 7.3% during the 2nd quarter. Yousif Capital Management LLC now owns 25,159 shares of the construction company's stock worth $174,000 after acquiring an additional 1,710 shares during the period. Legacy Wealth Asset Management LLC grew its stake in Cemex by 2.4% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 79,800 shares of the construction company's stock valued at $553,000 after acquiring an additional 1,843 shares in the last quarter. Allworth Financial LP grew its stake in Cemex by 7.4% during the 1st quarter. Allworth Financial LP now owns 27,651 shares of the construction company's stock valued at $157,000 after acquiring an additional 1,906 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of 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 purchasing an additional 2,027 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.