CEMEX (NYSE:CX) Receives New Coverage from Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group assumed coverage on shares of CEMEX (NYSE:CX) in a note issued to investors on Wednesday, StockNewsAPI reports. The brokerage set a “buy” rating and a $9.00 price target on the construction company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 36.16% from the company’s previous close.

Other analysts also recently issued reports about the company. Royal Bank of Canada started coverage on CEMEX in a research report on Tuesday, May 14th. They set an “underperform” rating and a $9.00 price target for the company. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 26th. Bank of America downgraded CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. decreased their target price on CEMEX from $9.50 to $8.50 and set an “overweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.24.

CEMEX Stock Performance

Shares of CX traded up $0.34 on Wednesday, reaching $6.61. 6,758,736 shares of the company’s stock traded hands, compared to its average volume of 6,659,878. The company has a current ratio of 0.78, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54. The stock has a market cap of $9.58 billion, a PE ratio of 47.43 and a beta of 1.47. The stock’s 50 day simple moving average is $7.07 and its two-hundred day simple moving average is $7.75. CEMEX has a 52-week low of $5.67 and a 52-week high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Monday, April 29th. The construction company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $4.14 billion during the quarter. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. During the same period in the previous year, the business posted $0.15 earnings per share. On average, analysts forecast that CEMEX will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CEMEX

Hedge funds have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV bought a new stake in CEMEX during the fourth quarter valued at $26,000. CWM LLC lifted its stake in CEMEX by 75.0% during the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after purchasing an additional 1,506 shares during the last quarter. Blue Trust Inc. lifted its stake in CEMEX by 65.0% during the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock worth $41,000 after purchasing an additional 2,062 shares during the last quarter. Fisher Asset Management LLC lifted its stake in CEMEX by 3,180.2% during the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after purchasing an additional 10,590 shares during the last quarter. Finally, Prudent Man Advisors LLC bought a new stake in CEMEX during the fourth quarter worth about $86,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

CEMEX Company Profile

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.