Cemex S.A.B. de C.V. (NYSE:CX) Receives $11.83 Average Target Price from Analysts

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $11.8278.

Several equities research analysts have weighed in on CX shares. Scotiabank lifted their price target on shares of Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a research note on Friday, April 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. Zacks Research lowered Cemex from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Morgan Stanley upgraded Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Monday, March 23rd. Finally, HSBC cut Cemex from a “buy” rating to a “hold” rating and set a $12.80 target price on the stock. in a report on Friday, February 6th.

Hedge Funds Weigh In On Cemex

A number of hedge funds have recently added to or reduced their stakes in the stock. WealthCollab LLC lifted its holdings in shares of Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after purchasing an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares during the last quarter. Ameriflex Group Inc. lifted its stake in Cemex by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock valued at $31,000 after acquiring an additional 1,744 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Cemex during the 4th quarter worth $34,000. Finally, Reyes Financial Architecture Inc. bought a new stake in shares of Cemex in the 3rd quarter worth $36,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Cemex Stock Down 1.5%

Shares of Cemex stock opened at $11.82 on Friday. Cemex has a one year low of $5.35 and a one year high of $13.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.83 and a quick ratio of 0.62. The stock’s 50-day moving average is $11.57 and its 200 day moving average is $11.25. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of 17.92 and a beta of 1.60.

Cemex (NYSE:CX) last released its quarterly earnings data on Thursday, February 5th. The construction company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.38). Cemex had a net margin of 5.93% and a return on equity of 2.85%. The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.01 billion. Equities research analysts anticipate that Cemex will post 0.85 EPS for the current year.

Cemex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This is a boost from Cemex’s previous quarterly dividend of $0.02. This represents a $0.09 annualized dividend and a dividend yield of 0.8%. Cemex’s payout ratio is presently 13.64%.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.