Cemex S.A.B. de C.V. to Issue Quarterly Dividend of $0.03 (NYSE:CX)

Key Points

• Cemex declared a quarterly dividend of $0.0312 per share, payable September 24 to shareholders of record on September 15. The dividend equates to approximately $0.12 annually and a 1.2% yield.
• The dividend appears well covered, with a current payout ratio of 16.9% and an expected future payout ratio of 11.5% based on projected earnings.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $13.07, versus the stock’s reported trading price of $10.67.

Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) announced a quarterly dividend on Friday, September 4th. Investors of record on Tuesday, September 15th will be paid a dividend of 0.0312 per share by the construction company on Thursday, September 24th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 15th.

Cemex has a payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cemex to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 11.5%.

Cemex Trading Up 0.1%

CX stock traded up $0.01 during midday trading on Friday, reaching $10.67. The company's stock had a trading volume of 3,703,918 shares, compared to its average volume of 5,272,190. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92. The stock has a fifty day simple moving average of $11.56 and a two-hundred day simple moving average of $11.89. Cemex has a 1 year low of $8.73 and a 1 year high of $13.67. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of 31.39 and a beta of 1.52.

Cemex (NYSE:CX - Get Free Report) last issued its earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (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%. On average, equities research analysts predict that Cemex will post 0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CX. Royal Bank Of Canada upped their target price on shares of Cemex from $12.75 to $13.50 and gave the stock a "sector perform" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on Cemex from $14.50 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Wall Street Zen cut Cemex from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Barclays raised their price target on Cemex from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Finally, Santander upgraded shares of Cemex to an "outperform" rating in a report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.07.

Cemex Company Profile

CEMEX, SAB. de C.V. NYSE: CX is a global building materials company headquartered in Monterrey, Mexico. Its primary businesses include the production, distribution and sale of cement, ready-mix concrete and aggregates, which are used in residential, commercial and infrastructure construction.

The company also provides urbanization and building solutions, including paving materials, concrete products and related services intended to support construction projects from planning through completion.

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