CEMEX (NYSE:CX) Upgraded to Outperform by Scotiabank

Scotiabank upgraded shares of CEMEX (NYSE:CX) from a sector perform rating to an outperform rating in a research note released on Tuesday morning, The Fly reports. The brokerage currently has $11.20 target price on the construction company’s stock.

Several other analysts have also issued reports on CX. Bradesco Corretora upgraded shares of CEMEX from a neutral rating to an outperform rating and increased their price target for the stock from $9.00 to $11.00 in a research report on Monday, June 28th. Barclays increased their price target on shares of CEMEX from $10.00 to $11.00 and gave the stock an overweight rating in a research report on Friday, June 25th. Citigroup raised their target price on shares of CEMEX from $9.50 to $9.80 and gave the company a neutral rating in a research report on Friday, June 25th. Zacks Investment Research lowered shares of CEMEX from a buy rating to a hold rating in a research report on Friday, August 13th. Finally, Berenberg Bank raised their target price on shares of CEMEX from $10.00 to $11.00 and gave the company a buy rating in a research report on Monday, June 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, CEMEX has an average rating of Buy and an average price target of $8.81.

Shares of CX opened at $7.63 on Tuesday. CEMEX has a 12 month low of $3.44 and a 12 month high of $9.09. The firm’s 50 day moving average is $8.01 and its 200-day moving average is $7.81. The stock has a market capitalization of $11.22 billion, a PE ratio of -21.19, a P/E/G ratio of 0.24 and a beta of 1.22. The company has a current ratio of 0.87, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75.

CEMEX (NYSE:CX) last announced its earnings results on Thursday, July 29th. The construction company reported $0.18 EPS for the quarter. CEMEX had a negative net margin of 3.73% and a negative return on equity of 4.97%. The company had revenue of $3.86 billion for the quarter. Equities research analysts predict that CEMEX will post 0.76 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in CX. FMR LLC raised its stake in CEMEX by 27.9% during the first quarter. FMR LLC now owns 1,151,305 shares of the construction company’s stock worth $5,342,000 after buying an additional 251,428 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in CEMEX by 15.0% in the first quarter. Janney Montgomery Scott LLC now owns 64,256 shares of the construction company’s stock valued at $448,000 after purchasing an additional 8,386 shares in the last quarter. Comerica Bank increased its stake in CEMEX by 2.9% in the first quarter. Comerica Bank now owns 85,002 shares of the construction company’s stock valued at $644,000 after purchasing an additional 2,425 shares in the last quarter. Victory Capital Management Inc. bought a new stake in CEMEX in the first quarter valued at $25,874,000. Finally, Envestnet Asset Management Inc. increased its stake in CEMEX by 104.3% in the first quarter. Envestnet Asset Management Inc. now owns 264,156 shares of the construction company’s stock valued at $1,841,000 after purchasing an additional 134,835 shares in the last quarter. 37.15% of the stock is owned by institutional investors and hedge funds.

CEMEX Company Profile

CEMEX SAB de CV engages in the production, distribution, marketing, and sale of cement, ready-mix concrete, and aggregates. It operates though the following geographical segments: Mexico; United States; Europe; South, Central America and the Caribbean (SCA&C); Asia, Middle East and Africa (AMEA); and Others.

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Analyst Recommendations for CEMEX (NYSE:CX)

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