Cementos Pacasmayo S.A.A. (NYSE:CPAC) Price Target Raised to $7.50

Cementos Pacasmayo S.A.A. (NYSE:CPAC) had its price target increased by JPMorgan Chase & Co. from $6.50 to $7.50 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the construction company’s stock.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cementos Pacasmayo S.A.A. in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $6.95.

Cementos Pacasmayo S.A.A. Stock Down 2.3%

Shares of CPAC stock opened at $7.25 on Tuesday. The firm has a fifty day moving average of $7.06 and a 200-day moving average of $6.34. Cementos Pacasmayo S.A.A. has a 12-month low of $5.10 and a 12-month high of $7.57. The company has a market capitalization of $614.61 million, a price-to-earnings ratio of 10.36 and a beta of 0.78. The company has a quick ratio of 0.40, a current ratio of 1.34 and a debt-to-equity ratio of 0.73.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last released its quarterly earnings results on Tuesday, October 28th. The construction company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $162.44 million during the quarter, compared to the consensus estimate of $159.70 million. Cementos Pacasmayo S.A.A. had a return on equity of 17.83% and a net margin of 10.68%. As a group, equities research analysts predict that Cementos Pacasmayo S.A.A. will post 0.62 earnings per share for the current fiscal year.

Cementos Pacasmayo S.A.A. Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 21st will be paid a $0.6018 dividend. The ex-dividend date is Friday, November 21st. Cementos Pacasmayo S.A.A.’s dividend payout ratio is currently 78.57%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cementos Pacasmayo S.A.A. stock. BNP Paribas Financial Markets raised its holdings in shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,110 shares of the construction company’s stock after purchasing an additional 1,900 shares during the quarter. BNP Paribas Financial Markets’ holdings in Cementos Pacasmayo S.A.A. were worth $179,000 at the end of the most recent reporting period.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in Peru. It operates through three segments: Cement, Concrete, Mortar and Precast; Quicklime; and Sales of Construction Supplies. The company’s cement and concrete products are used in residential and commercial construction, and civil engineering; ready-mix concrete used in construction sites; concrete precast, such as paving units or paver stones for pedestrian walkways, as well as other bricks for partition walls and concrete precast for structural and non-structural uses; and cement-based products.