Cemex S.A.B. de C.V. (NYSE:CX) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Cemex, with seven buy ratings and five holds among 12 brokerages. The average 1-year price target is $13.07 versus the reported share price of $12.24.
• Recent broker actions were generally positive: JPMorgan, Scotiabank and RBC raised their price targets, while JPMorgan and Scotiabank issued overweight and outperform ratings, respectively.
• Cemex reported quarterly revenue of $4.59 billion and earnings of $0.24 per share, while increasing its quarterly dividend to $0.0312 per share—an annualized yield of approximately 1.0%.

Shares of Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) have received a consensus rating of "Moderate Buy" from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.0667.

Several research analysts have commented on CX shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Cemex in a research report on Tuesday, May 26th. Wall Street Zen raised Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. increased their target price on Cemex from $14.50 to $15.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. Scotiabank boosted their price target on Cemex from $14.10 to $14.50 and gave the stock an "outperform" rating in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada upped their price target on Cemex from $12.75 to $13.50 and gave the stock a "sector perform" rating in a report on Friday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. WealthCollab LLC increased its stake in Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock worth $26,000 after buying an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock valued at $30,000 after buying an additional 3,093 shares during the last quarter. NFSG Corp boosted its position in Cemex by 123.5% in the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company's stock valued at $33,000 after buying an additional 1,579 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Cemex in the 4th quarter valued at about $34,000. Finally, Militia Capital Partners LP acquired a new stake in shares of Cemex during the second quarter valued at about $46,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Cemex Price Performance

Cemex stock opened at $12.24 on Tuesday. The firm has a fifty day moving average of $12.56 and a 200-day moving average of $12.23. Cemex has a 52-week low of $8.15 and a 52-week high of $13.67. The company has a quick ratio of 0.68, a current ratio of 0.92 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $17.73 billion, a P/E ratio of 35.99 and a beta of 1.52.

Cemex (NYSE:CX - Get Free Report) last posted its earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. The business had revenue of $4.59 billion for the quarter. As a group, analysts predict that Cemex will post 0.87 EPS for the current year.

Cemex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th were given a dividend of $0.0312 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This is an increase from Cemex's previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.0%. Cemex's dividend payout ratio is presently 35.29%.

Cemex Company Profile

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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