Cemex (NYSE:CX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cemex (NYSE:CX) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other equities analysts have also recently issued reports on CX. Itau BBA Securities cut Cemex from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 3rd. Barclays increased their target price on Cemex from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upgraded Cemex from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $8.10 to $10.50 in a report on Tuesday, August 26th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.53.

Cemex Price Performance

Shares of CX opened at $9.08 on Friday. Cemex has a 12-month low of $4.89 and a 12-month high of $9.19. The business’s fifty day moving average is $8.05 and its 200 day moving average is $6.87. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a market cap of $13.15 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.95 and a beta of 1.43.

Cemex (NYSE:CX) last issued its earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Sell-side analysts anticipate that Cemex will post 0.69 earnings per share for the current fiscal year.

Cemex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.0224 per share. The ex-dividend date was Tuesday, June 17th. This represents a $0.09 annualized dividend and a yield of 1.0%. Cemex’s dividend payout ratio (DPR) is 7.84%.

Institutional Investors Weigh In On Cemex

A number of hedge funds have recently made changes to their positions in the business. Dodge & Cox raised its stake in shares of Cemex by 35.1% during the 2nd quarter. Dodge & Cox now owns 95,023,835 shares of the construction company’s stock worth $658,515,000 after purchasing an additional 24,703,035 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cemex by 30.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,745,819 shares of the construction company’s stock worth $229,806,000 after purchasing an additional 9,541,622 shares during the period. Lazard Asset Management LLC raised its stake in shares of Cemex by 3.2% during the 4th quarter. Lazard Asset Management LLC now owns 36,836,513 shares of the construction company’s stock worth $207,757,000 after purchasing an additional 1,127,293 shares during the period. Brandes Investment Partners LP raised its stake in shares of Cemex by 7.7% during the 2nd quarter. Brandes Investment Partners LP now owns 32,648,163 shares of the construction company’s stock worth $226,252,000 after purchasing an additional 2,337,817 shares during the period. Finally, Orbis Allan Gray Ltd raised its stake in shares of Cemex by 90.2% during the 2nd quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock worth $182,263,000 after purchasing an additional 12,469,417 shares during the period. 82.97% of the stock is currently owned by 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.