Cemex (NYSE:CX) Hits New 1-Year High – What’s Next?

Cemex S.A.B. de C.V. (NYSE:CX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $10.47 and last traded at $10.4650, with a volume of 637009 shares trading hands. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Cemex from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $8.10 to $10.50 in a research note on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Barclays boosted their target price on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Bank of America raised shares of Cemex from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $10.80 in a research report on Wednesday, October 15th. Finally, Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.14.

Cemex Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The company has a market cap of $14.99 billion, a PE ratio of 11.12, a P/E/G ratio of 1.17 and a beta of 1.56. The firm’s 50-day simple moving average is $9.51 and its two-hundred day simple moving average is $8.20.

Cemex (NYSE:CX) last posted its quarterly earnings data on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.01 by $0.15. Cemex had a net margin of 8.62% and a return on equity of 6.85%. The business had revenue of $230.56 million during the quarter, compared to the consensus estimate of $226.73 million. As a group, research analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 17th were paid a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, September 17th. Cemex’s payout ratio is presently 9.68%.

Institutional Investors Weigh In On Cemex

A number of large investors have recently bought and sold shares of the company. WealthCollab LLC lifted its stake in Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after acquiring an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after acquiring an additional 3,093 shares during the period. Ameriflex Group Inc. boosted its position in Cemex by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after purchasing an additional 1,744 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Cemex by 63.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after purchasing an additional 2,027 shares during the period. Finally, Reyes Financial Architecture Inc. purchased a new position in shares of Cemex during the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors 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.