Bank of America cut shares of CEMEX (NYSE:CX – Free Report) from a buy rating to a neutral rating in a report published on Wednesday, Marketbeat reports. They currently have $9.00 target price on the construction company’s stock.
A number of other research analysts have also recently commented on the company. Barclays cut CEMEX from an overweight rating to an equal weight rating and set a $9.00 price objective on the stock. in a research note on Friday, February 9th. StockNews.com cut CEMEX from a strong-buy rating to a buy rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $9.53.
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CEMEX Trading Up 1.1 %
CEMEX (NYSE:CX – Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) EPS for the quarter. The company had revenue of $4.24 billion for the quarter. CEMEX had a return on equity of 1.81% and a net margin of 1.28%. Equities analysts forecast that CEMEX will post 0.88 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Ballentine Partners LLC lifted its stake in shares of CEMEX by 6.9% in the first quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock worth $190,000 after acquiring an additional 1,358 shares in the last quarter. Aprio Wealth Management LLC raised its stake in CEMEX by 8.9% during the first quarter. Aprio Wealth Management LLC now owns 17,558 shares of the construction company’s stock valued at $158,000 after buying an additional 1,431 shares in the last quarter. Parallel Advisors LLC raised its stake in CEMEX by 11.5% during the fourth quarter. Parallel Advisors LLC now owns 14,006 shares of the construction company’s stock valued at $109,000 after buying an additional 1,443 shares in the last quarter. CWM LLC raised its stake in CEMEX by 75.0% during the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after buying an additional 1,506 shares in the last quarter. Finally, Claro Advisors LLC raised its stake in CEMEX by 6.9% during the first quarter. Claro Advisors LLC now owns 30,842 shares of the construction company’s stock valued at $278,000 after buying an additional 1,998 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.
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.
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