Cemex SAB de CV (NYSE:CX) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Cemex SAB de CV (NYSE:CX) from a sell rating to a hold rating in a research note released on Friday, Zacks.com reports.

According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “

Other research analysts have also recently issued reports about the stock. HSBC cut shares of Cemex SAB de CV from a buy rating to a hold rating in a report on Wednesday, September 11th. ValuEngine raised shares of Cemex SAB de CV from a sell rating to a hold rating in a report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $6.00.

Shares of Cemex SAB de CV stock opened at $3.66 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.50 and a current ratio of 0.69. The stock has a market capitalization of $5.47 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. Cemex SAB de CV has a 52-week low of $2.82 and a 52-week high of $5.63. The company has a 50-day simple moving average of $3.89 and a two-hundred day simple moving average of $3.91.

Cemex SAB de CV (NYSE:CX) last issued its earnings results on Thursday, October 24th. The construction company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). The firm had revenue of $3.49 billion during the quarter. Cemex SAB de CV had a return on equity of 1.78% and a net margin of 2.51%. As a group, equities research analysts forecast that Cemex SAB de CV will post 0.29 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in CX. Letko Brosseau & Associates Inc. bought a new stake in shares of Cemex SAB de CV in the third quarter worth approximately $13,328,000. Brandes Investment Partners LP grew its stake in shares of Cemex SAB de CV by 2.9% in the second quarter. Brandes Investment Partners LP now owns 63,869,750 shares of the construction company’s stock worth $271,232,000 after acquiring an additional 1,772,864 shares during the period. Renaissance Technologies LLC grew its stake in shares of Cemex SAB de CV by 87.4% in the second quarter. Renaissance Technologies LLC now owns 3,271,300 shares of the construction company’s stock worth $13,870,000 after acquiring an additional 1,526,100 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of Cemex SAB de CV by 18.3% in the second quarter. Parametric Portfolio Associates LLC now owns 8,051,407 shares of the construction company’s stock worth $34,138,000 after acquiring an additional 1,245,721 shares during the period. Finally, Provida Pension Fund Administrator bought a new stake in shares of Cemex SAB de CV in the second quarter worth approximately $3,826,000. Hedge funds and other institutional investors own 31.11% of the company’s stock.

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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