CEMEX, S.A.B. de C.V. (NYSE:CX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CEMEX, S.A.B. de C.V. (NYSE:CX) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.70.

Several research firms have recently commented on CX. JPMorgan Chase & Co. reissued an “overweight” rating and set a $8.00 price target on shares of CEMEX in a research note on Wednesday, August 21st. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th. Barclays raised CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group started coverage on CEMEX in a research report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price objective for the company.

Institutional Trading of CEMEX

Hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in CEMEX during the 2nd quarter worth $228,000. Creative Planning increased its holdings in shares of CEMEX by 19.7% in the second quarter. Creative Planning now owns 174,096 shares of the construction company’s stock worth $1,112,000 after acquiring an additional 28,641 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of CEMEX during the second quarter worth about $162,000. Employees Retirement System of Texas lifted its holdings in shares of CEMEX by 13.8% during the 2nd quarter. Employees Retirement System of Texas now owns 183,663 shares of the construction company’s stock valued at $1,174,000 after purchasing an additional 22,214 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in shares of CEMEX by 103.3% in the 2nd quarter. APG Asset Management N.V. now owns 473,400 shares of the construction company’s stock valued at $2,823,000 after purchasing an additional 240,572 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

CEMEX Stock Down 1.9 %

NYSE CX opened at $6.35 on Friday. The stock’s 50 day simple moving average is $6.23 and its 200 day simple moving average is $7.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65. CEMEX has a one year low of $5.50 and a one year high of $9.27. The firm has a market cap of $9.20 billion, a PE ratio of 45.36 and a beta of 1.48.

CEMEX (NYSE:CX) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. The business had revenue of $4.49 billion during the quarter. As a group, sell-side analysts forecast that CEMEX will post 0.82 earnings per share for the current fiscal year.

CEMEX Cuts Dividend

The business also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were issued a dividend of $0.021 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s dividend payout ratio (DPR) is currently 28.57%.

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.