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

Key Points

• Cemex S.A.B. de C.V. has received a consensus rating of "Hold" from eleven brokerages, with one sell recommendation, six holds, and four buys.
• The average 12-month price target for Cemex shares among analysts is $9.52, with significant recent adjustments in ratings and price objectives by firms like JPMorgan and Bank of America.
• Cemex reported a quarterly earnings per share of $0.23, exceeding estimates, along with a declared dividend of $0.0224 per share, reflecting a yield of 1.0%.

Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) has been assigned an average rating of "Hold" from the eleven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.5188.

CX has been the topic of a number of recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Cemex in a research note on Friday. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $8.10 to $10.50 in a research report on Tuesday, August 26th. Scotiabank downgraded Cemex from a "sector outperform" rating to a "sector perform" rating and set a $11.10 price objective for the company. in a research report on Tuesday, October 21st. Bank of America raised Cemex from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $10.00 to $10.80 in a research report on Wednesday, October 15th. Finally, Citigroup downgraded Cemex from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $9.00 to $10.00 in a research report on Monday, October 13th.

Institutional Investors Weigh In On Cemex

Several large investors have recently modified their holdings of CX. Dodge & Cox boosted its holdings in shares of Cemex by 35.1% in the second quarter. Dodge & Cox now owns 95,023,835 shares of the construction company's stock valued at $658,515,000 after acquiring an additional 24,703,035 shares during the period. Orbis Allan Gray Ltd boosted its holdings in shares of Cemex by 90.2% in the second quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company's stock valued at $182,263,000 after acquiring an additional 12,469,417 shares during the period. Strs Ohio acquired a new stake in shares of Cemex in the first quarter valued at approximately $27,123,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Cemex by 54.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 10,366,666 shares of the construction company's stock worth $93,196,000 after purchasing an additional 3,639,547 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cemex by 58.8% during the first quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company's stock worth $40,320,000 after purchasing an additional 2,661,030 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Cemex Stock Up 0.4%

NYSE CX opened at $9.36 on Friday. The firm has a market cap of $13.57 billion, a PE ratio of 9.18, a P/E/G ratio of 1.35 and a beta of 1.51. Cemex has a 52 week low of $4.89 and a 52 week high of $9.97. The business's fifty day simple moving average is $9.18 and its 200-day simple moving average is $7.75. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.

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

Cemex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were issued a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, September 17th. Cemex's dividend payout ratio is 8.82%.

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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