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

Key Points

• Cemex S.A.B. de C.V. has a consensus rating of "Hold" from nine research firms, with one sell, four hold, and four buy recommendations.
• JPMorgan Chase upgraded Cemex's rating to "overweight" and raised the price target from $8.10 to $10.50.
• Cemex reported quarterly earnings per share of $0.23, exceeding analyst expectations of $0.18, despite revenue falling short of estimates at $4.13 billion.

Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) has received a consensus rating of "Hold" from the nine research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $9.0214.

Several equities research analysts have weighed in on the company. Scotiabank reaffirmed an "outperform" rating on shares of Cemex in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. upgraded Cemex from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $8.10 to $10.50 in a research note on Tuesday, August 26th. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a research report on Sunday. 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, September 3rd. Finally, Barclays raised their price objective on shares of Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th.

Institutional Investors Weigh In On Cemex

Institutional investors have recently modified their holdings of the business. WealthCollab LLC increased its stake in shares of Cemex by 73.7% in 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 in the last quarter. Wayfinding Financial LLC acquired a new stake in Cemex in the first quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. grew its holdings in Cemex by 256.7% in 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 during the period. Farther Finance Advisors LLC increased its position in shares of Cemex by 63.7% in 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 in the last quarter. Finally, Militia Capital Partners LP acquired a new position in shares of Cemex during the 2nd quarter worth approximately $46,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Stock Performance

CX opened at $8.98 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. Cemex has a 12-month low of $4.89 and a 12-month high of $9.61. The firm has a 50 day moving average of $8.89 and a two-hundred day moving average of $7.30. The firm has a market capitalization of $13.01 billion, a PE ratio of 8.80, a P/E/G ratio of 1.46 and a beta of 1.43.

Cemex (NYSE:CX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, topping 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 firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.20 billion. On average, analysts anticipate 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, September 25th. Investors of record on Wednesday, September 17th were given a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a yield of 1.0%. The ex-dividend date was Wednesday, September 17th. Cemex's dividend payout ratio (DPR) is currently 8.82%.

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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