CEMEX (NYSE:CX) Trading 5.9% Higher

CEMEX, S.A.B. de C.V. (NYSE:CX) shares traded up 5.9% during mid-day trading on Wednesday . The company traded as high as $6.66 and last traded at $6.64. 11,839,612 shares changed hands during mid-day trading, an increase of 77% from the average session volume of 6,698,664 shares. The stock had previously closed at $6.27.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group began coverage on CEMEX in a report on Wednesday. They issued a “buy” rating and a $9.00 target price for the company. StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada assumed coverage on CEMEX in a research report on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 price target on the stock. Bank of America lowered CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. reduced their target price on CEMEX from $9.50 to $8.50 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.24.

CEMEX Trading Up 0.7 %

The company has a market cap of $9.98 billion, a P/E ratio of 49.14 and a beta of 1.47. The business has a fifty day moving average price of $7.02 and a 200-day moving average price of $7.74. The company has a quick ratio of 0.51, a current ratio of 0.78 and a debt-to-equity ratio of 0.54.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Monday, April 29th. The construction company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The business 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 quarter last year, the firm posted $0.15 earnings per share. On average, analysts forecast that CEMEX, S.A.B. de C.V. will post 0.85 earnings per share for the current year.

CEMEX Announces Dividend

The firm also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were paid a dividend of $0.349 per share. The ex-dividend date of this dividend was Monday, June 17th. CEMEX’s payout ratio is presently 14.29%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Creative Financial Designs Inc. ADV bought a new position in shares of CEMEX in the 4th quarter valued at $26,000. CWM LLC raised its position in CEMEX by 75.0% during the 1st 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. raised its position in CEMEX by 65.0% during the 4th 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. KCM Investment Advisors LLC bought a new position in CEMEX during the 1st quarter worth $91,000. Finally, Fisher Asset Management LLC raised its position in CEMEX by 3,180.2% during the 4th 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. 82.97% of the stock is currently owned by institutional investors.

About CEMEX

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.