Brokerages Set CEMEX, S.A.B. de C.V. (NYSE:CX) Target Price at $7.82

Shares of CEMEX, S.A.B. de C.V. (NYSE:CX) have been given an average rating of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $7.82.

CX has been the subject of a number of recent analyst reports. Scotiabank dropped their price target on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered CEMEX from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $6.00 in a research note on Tuesday, October 29th. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada cut their target price on CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 29th. Finally, Barclays lowered their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th.

CEMEX Trading Up 2.6 %

Shares of NYSE:CX opened at $5.47 on Friday. The stock has a 50 day moving average of $5.87 and a 200 day moving average of $6.43. The company has a market cap of $7.93 billion, a PE ratio of 18.23 and a beta of 1.49. CEMEX has a 12-month low of $5.00 and a 12-month high of $9.27. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were issued a dividend of $0.021 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is 13.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP raised its stake in CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,747 shares in the last quarter. Barclays PLC lifted its holdings in shares of CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after acquiring an additional 1,843 shares during the last quarter. Atomi Financial Group Inc. grew its position in CEMEX by 7.1% in the first quarter. Atomi Financial Group Inc. now owns 33,700 shares of the construction company’s stock worth $304,000 after acquiring an additional 2,241 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in CEMEX by 3.6% during the third quarter. Legacy Wealth Asset Management LLC now owns 75,949 shares of the construction company’s stock worth $463,000 after acquiring an additional 2,654 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in CEMEX by 2.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 132,972 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 3,200 shares during the period. 82.97% of the stock is 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.