StockNews.com Upgrades CEMEX (NYSE:CX) to Strong-Buy

StockNews.com upgraded shares of CEMEX (NYSE:CX) from a buy rating to a strong-buy rating in a research note published on Thursday.

Other analysts also recently issued research reports about the stock. Bank of America lowered shares of CEMEX from a buy rating to a neutral rating and set a $9.00 price objective on the stock. in a research note on Wednesday, April 24th. The Goldman Sachs Group initiated coverage on CEMEX in a report on Wednesday, July 10th. They issued a buy rating and a $9.00 price target for the company. JPMorgan Chase & Co. cut their target price on CEMEX from $9.50 to $8.50 and set an overweight rating on the stock in a research report on Monday, July 8th. Finally, Royal Bank of Canada initiated coverage on shares of CEMEX in a research report on Tuesday, May 14th. They set an underperform rating and a $9.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $9.24.

CEMEX Stock Performance

NYSE CX opened at $6.15 on Thursday. The business has a 50 day moving average price of $6.86 and a 200 day moving average price of $7.68. The company has a market capitalization of $8.91 billion, a P/E ratio of 43.93 and a beta of 1.47. CEMEX has a 1-year low of $5.67 and a 1-year high of $9.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.78 and a quick ratio of 0.51.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Monday, April 29th. The construction company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. The business had revenue of $4.14 billion during the quarter. During the same quarter last year, the firm earned $0.15 earnings per share. Sell-side analysts expect that CEMEX will post 0.85 EPS for the current fiscal year.

CEMEX Announces Dividend

The firm also recently declared a Variable dividend, which was paid on Wednesday, June 26th. Stockholders 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 dividend payout ratio (DPR) is 14.29%.

Institutional Trading of CEMEX

Large investors have recently modified their holdings of the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of CEMEX in the fourth quarter worth $26,000. CWM LLC increased its stake in CEMEX by 75.0% in the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after acquiring an additional 1,506 shares during the period. Blue Trust Inc. raised its position in CEMEX by 65.0% in 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 in 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 period. Finally, Prudent Man Advisors LLC acquired a new stake in CEMEX during the fourth quarter valued at approximately $86,000. 82.97% of the stock is 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.