Scotiabank Increases Cemex (NYSE:CX) Price Target to $14.10

Key Points

• Scotiabank raised its price target for Cemex to $14.10 (from $13.90) and maintained a "sector outperform," implying a potential 17.75% upside from the prior close.
• Analyst coverage is mixed—six Buys, six Holds and one Sell—with an average rating of "Hold" and an average target of $11.40, although firms like Morgan Stanley and Barclays have more positive stances (MS upgraded to overweight, $14 target).
• Cemex posted an EPS miss for the quarter (‑$0.19 vs. $0.19 expected) but beat on revenue ($4.18B); the stock traded near $11.98, has a market cap of about $17.35B and roughly 83% institutional ownership.

Cemex (NYSE:CX - Get Free Report) had its price objective boosted by equities research analysts at Scotiabank from $13.90 to $14.10 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the construction company's stock. Scotiabank's price objective indicates a potential upside of 17.75% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Barclays restated an "overweight" rating on shares of Cemex in a report on Thursday, March 12th. Morgan Stanley upgraded shares of Cemex from an "equal weight" rating to an "overweight" rating and set a $14.00 price target on the stock in a report on Monday, March 23rd. Zacks Research lowered shares of Cemex from a "strong-buy" rating to a "hold" rating in a report on Monday, February 9th. Weiss Ratings restated a "hold (c)" rating on shares of Cemex in a report on Wednesday, January 21st. Finally, HSBC lowered shares of Cemex from a "buy" rating to a "hold" rating and set a $12.80 price target on the stock. in a report on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.40.

Cemex Trading Up 0.5%

Shares of CX stock traded up $0.07 during trading hours on Friday, hitting $11.98. 1,293,770 shares of the company were exchanged, compared to its average volume of 6,962,612. The firm has a market cap of $17.35 billion, a PE ratio of 18.14 and a beta of 1.60. Cemex has a 1 year low of $4.97 and a 1 year high of $13.35. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average of $11.67 and a 200 day moving average of $11.06.

Cemex (NYSE:CX - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The construction company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.38). Cemex had a return on equity of 2.85% and a net margin of 5.93%.The company had revenue of $4.18 billion for the quarter, compared to analysts' expectations of $4.01 billion. Analysts expect that Cemex will post 0.69 earnings per share for the current year.

Institutional Trading of Cemex

Large investors have recently bought and sold shares of the company. WealthCollab LLC grew its position in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock worth $26,000 after buying an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock worth $30,000 after buying an additional 3,093 shares in the last quarter. Ameriflex Group Inc. grew its position in shares of Cemex by 100.0% during the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company's stock worth $31,000 after buying an additional 1,744 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Cemex during the fourth quarter worth approximately $34,000. Finally, Reyes Financial Architecture Inc. acquired a new position in Cemex in the third quarter worth $36,000. Institutional investors and hedge funds own 82.97% of the company's stock.

About Cemex

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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