Cemex SAB de CV (NYSE:CX) Cut to Hold at HSBC

HSBC lowered shares of Cemex SAB de CV (NYSE:CX) from a buy rating to a hold rating in a research report released on Wednesday, The Fly reports.

A number of other research analysts have also issued reports on CX. Zacks Investment Research raised Cemex SAB de CV from a sell rating to a hold rating in a report on Wednesday, September 4th. ValuEngine raised Cemex SAB de CV from a strong sell rating to a sell rating in a report on Thursday, August 1st. Finally, Santander lowered Cemex SAB de CV from a buy rating to a hold rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $6.75.

NYSE:CX opened at $3.95 on Wednesday. The firm has a market cap of $5.92 billion, a P/E ratio of 11.29, a PEG ratio of 0.81 and a beta of 1.42. The company has a current ratio of 0.74, a quick ratio of 0.53 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $3.39 and its 200-day simple moving average is $4.19. Cemex SAB de CV has a 12-month low of $2.82 and a 12-month high of $7.32.

Cemex SAB de CV (NYSE:CX) last released its earnings results on Thursday, July 25th. The construction company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $3.52 billion for the quarter. Cemex SAB de CV had a return on equity of 1.75% and a net margin of 2.37%. Research analysts forecast that Cemex SAB de CV will post 0.31 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Creative Planning grew its holdings in Cemex SAB de CV by 9.8% during the second quarter. Creative Planning now owns 32,233 shares of the construction company’s stock worth $137,000 after acquiring an additional 2,883 shares during the period. Altfest L J & Co. Inc. grew its holdings in Cemex SAB de CV by 4.5% during the second quarter. Altfest L J & Co. Inc. now owns 66,859 shares of the construction company’s stock worth $283,000 after acquiring an additional 2,902 shares during the period. Comerica Bank grew its holdings in Cemex SAB de CV by 3.5% during the second quarter. Comerica Bank now owns 89,775 shares of the construction company’s stock worth $351,000 after acquiring an additional 3,036 shares during the period. First Republic Investment Management Inc. grew its holdings in Cemex SAB de CV by 5.4% during the first quarter. First Republic Investment Management Inc. now owns 66,530 shares of the construction company’s stock worth $309,000 after acquiring an additional 3,396 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in Cemex SAB de CV by 21.4% during the second quarter. Janney Montgomery Scott LLC now owns 21,372 shares of the construction company’s stock worth $91,000 after acquiring an additional 3,768 shares during the period. 30.72% of the stock is currently owned by hedge funds and other institutional investors.

Cemex SAB de CV Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

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Analyst Recommendations for Cemex SAB de CV (NYSE:CX)

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