CEMEX (NYSE:CX) Rating Lowered to Neutral at Bank of America

CEMEX (NYSE:CX - Get Free Report) was downgraded by research analysts at Bank of America from a "buy" rating to a "neutral" rating in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $9.00 price target on the construction company's stock. Bank of America's target price indicates a potential upside of 10.70% from the company's current price.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of CEMEX from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 9th. Barclays lowered shares of CEMEX from an "overweight" rating to an "equal weight" rating and set a $9.00 target price for the company. in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.37.

CEMEX Price Performance

Shares of NYSE CX traded down $0.14 during midday trading on Wednesday, reaching $8.13. The stock had a trading volume of 8,237,310 shares, compared to its average volume of 6,672,638. The stock has a 50-day moving average of $8.29 and a 200-day moving average of $7.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.74. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 67.50, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. CEMEX has a 12-month low of $5.67 and a 12-month high of $9.27.

CEMEX (NYSE:CX - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) earnings per share (EPS) for the quarter. The firm had revenue of $4.24 billion during the quarter. CEMEX had a return on equity of 1.50% and a net margin of 1.06%. As a group, research analysts anticipate that CEMEX will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On CEMEX

Several institutional investors have recently bought and sold shares of the business. Capital International Investors lifted its holdings in shares of CEMEX by 0.5% in the 4th quarter. Capital International Investors now owns 28,003,151 shares of the construction company's stock worth $217,024,000 after acquiring an additional 152,587 shares during the last quarter. Principal Financial Group Inc. increased its stake in CEMEX by 7.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company's stock worth $161,462,000 after buying an additional 1,521,007 shares during the period. Acadian Asset Management LLC increased its stake in CEMEX by 41.4% in the 3rd quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company's stock worth $122,996,000 after buying an additional 5,542,723 shares during the period. Schroder Investment Management Group increased its position in CEMEX by 17.6% during the 4th quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company's stock valued at $76,262,000 after purchasing an additional 1,471,407 shares during the period. Finally, American Century Companies Inc. increased its position in CEMEX by 3.4% during the 3rd quarter. American Century Companies Inc. now owns 9,744,804 shares of the construction company's stock valued at $63,341,000 after purchasing an additional 318,541 shares during the period. Institutional investors own 82.97% of the company's stock.

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.