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

Key Points

• Cemex has a consensus “Moderate Buy” rating from 12 analysts, with seven buy ratings and five holds. The average 12-month price target is $13.07, above the reported share price of $11.07.
• Recent analyst actions were generally positive: Barclays and Scotiabank raised their price targets, while Santander upgraded the stock to “outperform”; Wall Street Zen downgraded it to “hold.”
• Institutional investors own 82.97% of Cemex, while an executive sold 212,680 shares. The company also increased its quarterly dividend to $0.0312 per share, equal to a 1.1% annualized yield.

Shares of Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve analysts that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $13.0667.

A number of research analysts recently issued reports on the company. Weiss Ratings restated a "hold (c-)" rating on shares of Cemex in a report on Tuesday, May 26th. Barclays increased their price objective on Cemex from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Santander upgraded Cemex to an "outperform" rating in a research report on Thursday, June 11th. Scotiabank lifted their price objective on Cemex from $14.10 to $14.50 and gave the stock an "outperform" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen cut Cemex from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th.

Insider Buying and Selling

In other Cemex news, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $10.68, for a total value of $2,271,422.40. Following the completion of the transaction, the vice president directly owned 289,490 shares in the company, valued at approximately $3,091,753.20. This represents a 42.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Cemex

A number of institutional investors have recently bought and sold shares of CX. WealthCollab LLC boosted 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 acquiring an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock worth $30,000 after acquiring an additional 3,093 shares in the last quarter. NFSG Corp raised its position in shares of Cemex by 123.5% in the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company's stock worth $33,000 after acquiring an additional 1,579 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Cemex in the 4th quarter valued at approximately $34,000. Finally, Militia Capital Partners LP purchased a new position in shares of Cemex in the 2nd quarter valued at approximately $46,000. 82.97% of the stock is owned by institutional investors.

Cemex Price Performance

Shares of Cemex stock opened at $11.07 on Friday. The company's fifty day simple moving average is $12.04 and its two-hundred day simple moving average is $12.07. Cemex has a 12-month low of $8.73 and a 12-month high of $13.67. The firm has a market cap of $16.04 billion, a PE ratio of 32.56 and a beta of 1.53. The company has a quick ratio of 0.68, a current ratio of 0.92 and a debt-to-equity ratio of 0.44.

Cemex (NYSE:CX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 EPS for the quarter. The firm had revenue of $4.59 billion during the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. As a group, equities analysts expect that Cemex will post 0.91 EPS for the current year.

Cemex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were issued a $0.0312 dividend. This represents a $0.12 annualized dividend and a yield of 1.1%. This is an increase from Cemex's previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, June 17th. Cemex's dividend payout ratio (DPR) 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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