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Wall Street Zen Downgrades Cemex (NYSE:CX) to Hold

Cemex logo with Construction background

Cemex (NYSE:CX - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada lifted their price objective on shares of Cemex from $5.00 to $5.25 and gave the stock an "underperform" rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. lifted their price objective on Cemex from $6.00 to $6.80 and gave the company a "neutral" rating in a report on Tuesday, April 29th. Bradesco Corretora set a $7.50 target price on Cemex and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Morgan Stanley cut Cemex from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, March 26th. Finally, Barclays reaffirmed an "overweight" rating and set a $9.00 price objective (up previously from $8.00) on shares of Cemex in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $7.74.

View Our Latest Stock Analysis on Cemex

Cemex Stock Down 1.4%

NYSE:CX opened at $7.63 on Friday. The stock has a 50-day moving average price of $7.01 and a two-hundred day moving average price of $6.30. Cemex has a 1 year low of $4.89 and a 1 year high of $7.80. The company has a current ratio of 0.85, a quick ratio of 0.60 and a debt-to-equity ratio of 0.44. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.25 and a beta of 1.38.

Cemex (NYSE:CX - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 EPS for the quarter. The firm had revenue of $186.46 million during the quarter, compared to analysts' expectations of $214.59 million. Cemex had a net margin of 8.84% and a return on equity of 6.47%. As a group, equities analysts expect that Cemex will post 0.69 earnings per share for the current year.

Institutional Trading of Cemex

A number of hedge funds and other institutional investors have recently bought and sold shares of CX. Robeco Institutional Asset Management B.V. lifted its holdings in Cemex by 5.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 6,727,119 shares of the construction company's stock worth $46,619,000 after acquiring an additional 332,914 shares during the period. Kathmere Capital Management LLC purchased a new stake in shares of Cemex in the second quarter worth $109,000. Ballentine Partners LLC increased its stake in Cemex by 13.7% in the second quarter. Ballentine Partners LLC now owns 33,213 shares of the construction company's stock valued at $230,000 after acquiring an additional 4,002 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company's stock worth $36,000 after purchasing an additional 2,027 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Cemex in the 1st quarter worth about $27,123,000. Institutional investors own 82.97% of the company's stock.

About Cemex

(Get Free Report)

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.

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Analyst Recommendations for Cemex (NYSE:CX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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