Cemex (NYSE:CX) Announces Quarterly Earnings Results

Key Points

• Cemex beat quarterly expectations: The company reported earnings of $0.28 per share versus the $0.25 consensus estimate, while revenue reached $4.59 billion, above the $4.45 billion forecast.
• Shares opened at $10.21, near the 50-day moving average and well below the 12-month high of $13.67. Cemex also paid a quarterly dividend of $0.0312 per share, equivalent to a 1.2% annualized yield.
• Analyst sentiment remains mixed: Cemex carries a “Moderate Buy” consensus rating with a $13.94 average price target, while two senior executives recently sold substantial portions of their holdings.

Cemex (NYSE:CX - Get Free Report) announced its quarterly earnings data on Monday. The construction company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.03, FiscalAI reports. Cemex had a return on equity of 3.82% and a net margin of 2.83%. The firm had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.45 billion.

Cemex Price Performance

Shares of NYSE:CX opened at $10.21 on Monday. The firm has a market capitalization of $14.78 billion, a PE ratio of 30.02 and a beta of 1.51. 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 company has a 50-day moving average price of $10.26 and a two-hundred day moving average price of $11.61. Cemex has a twelve month low of $9.30 and a twelve month high of $13.67.

Cemex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.0312 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, September 15th. Cemex's dividend payout ratio (DPR) is currently 35.29%.

Insider Activity

In related news, EVP Mauricio Doehner sold 927,900 shares of the company's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $9.57, for a total transaction of $8,880,003.00. Following the sale, the executive vice president directly owned 584,930 shares in the company, valued at approximately $5,597,780.10. This represents a 61.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $10.68, for a total transaction of $2,271,422.40. Following the completion of the transaction, the vice president directly owned 289,490 shares of the company's stock, valued at approximately $3,091,753.20. This trade represents a 42.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CX. Zacks Research cut Cemex from a "hold" rating to a "strong sell" rating in a research note on Thursday. Wall Street Zen lowered shares of Cemex from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Citigroup upgraded shares of Cemex from a "neutral" rating to a "buy" rating and reduced their price target for the company from $13.70 to $12.00 in a research report on Thursday, October 15th. Weiss Ratings restated a "hold (c-)" rating on shares of Cemex in a report on Friday, August 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cemex from $14.50 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cemex presently has an average rating of "Moderate Buy" and an average target price of $13.94.

Cemex Company Profile

Cemex, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces and markets cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.

Cemex also provides construction solutions and services, including materials distribution, logistics and digital tools designed to support contractors, builders and other customers. Its products serve a broad range of applications, from housing and commercial development to roads, bridges, airports and other major infrastructure.

Founded in Mexico in 1906, Cemex has expanded through organic growth and acquisitions into an international business serving customers across the Americas, Europe, Africa, the Middle East and Asia.

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