Cemex SAB de CV (NYSE:CX) Cut to “Sell” at Zacks Investment Research

Cemex SAB de CV (NYSE:CX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “

Several other research firms have also issued reports on CX. ValuEngine raised shares of Cemex SAB de CV from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. HSBC downgraded shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Santander lowered shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Cemex SAB de CV has an average rating of “Hold” and an average target price of $6.75.



Shares of NYSE:CX traded down $0.11 during trading on Wednesday, hitting $3.93. 13,067,965 shares of the company were exchanged, compared to its average volume of 7,493,782. Cemex SAB de CV has a fifty-two week low of $2.82 and a fifty-two week high of $7.32. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 0.82 and a beta of 1.42. The company has a current ratio of 0.74, a quick ratio of 0.53 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average price of $3.38 and a two-hundred day moving average price of $4.20.

Cemex SAB de CV (NYSE:CX) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $0.06 EPS for the quarter. Cemex SAB de CV had a return on equity of 1.75% and a net margin of 2.37%. The company had revenue of $3.52 billion during the quarter. As a group, research analysts predict that Cemex SAB de CV will post 0.31 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC acquired a new position in shares of Cemex SAB de CV during the 2nd quarter worth approximately $26,000. Golden State Wealth Management LLC boosted its position in Cemex SAB de CV by 121.9% during the second quarter. Golden State Wealth Management LLC now owns 7,281 shares of the construction company’s stock worth $30,000 after purchasing an additional 4,000 shares during the period. Corient Capital Partners LLC acquired a new position in shares of Cemex SAB de CV in the first quarter valued at $47,000. TT International acquired a new position in shares of Cemex SAB de CV in the second quarter valued at $46,346,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Cemex SAB de CV in the second quarter valued at $62,000. 30.72% of the stock is owned by institutional investors.

About Cemex SAB de CV

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

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