Cemex S.A.B. de C.V. (NYSE:CX) Stock Has Average Price Target of $13.04 According to Brokerages

Cemex S.A.B. de C.V. (NYSE:CX) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $13.42.

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada cut their price objective on shares of Cemex from $13.50 to $13.25 and set a “sector perform” rating for the company in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of Cemex from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Scotiabank increased their target price on shares of Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cemex in a research note on Friday, August 21st.

Insider Transactions at Cemex

In related news, EVP Mauricio Doehner sold 927,900 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $9.57, for a total value of $8,880,003.00. Following the sale, the executive vice president owned 584,930 shares in the company, valued at approximately $5,597,780.10. This trade represents a 61.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $10.68, for a total value of $2,271,422.40. Following the completion of the sale, the vice president owned 289,490 shares in the company, valued at $3,091,753.20. This trade represents a 42.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Cemex

A number of institutional investors have recently added to or reduced their stakes in CX. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Cemex by 1,747.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,646,000 shares of the construction company’s stock worth $41,710,000 after buying an additional 3,448,600 shares during the period. Black Creek Investment Management Inc. increased its stake in shares of Cemex by 933.8% in the 4th quarter. Black Creek Investment Management Inc. now owns 2,798,783 shares of the construction company’s stock worth $32,158,000 after acquiring an additional 2,528,043 shares in the last quarter. ABC Arbitrage SA bought a new position in shares of Cemex in the 1st quarter worth about $13,425,000. Lazard Asset Management LLC boosted its stake in Cemex by 14.4% during the first quarter. Lazard Asset Management LLC now owns 4,046,527 shares of the construction company’s stock worth $46,292,000 after acquiring an additional 508,016 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Cemex by 31.8% in the first quarter. Bank of America Corp DE now owns 1,916,167 shares of the construction company’s stock worth $21,921,000 after purchasing an additional 462,848 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Cemex Stock Up 1.8%

CX opened at $9.74 on Friday. The company has a 50 day moving average of $10.45 and a 200 day moving average of $11.67. The company has a market cap of $14.12 billion, a PE ratio of 25.86 and a beta of 1.51. Cemex has a 12 month low of $9.10 and a 12 month high of $13.67. The company has a current ratio of 0.92, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44.

Cemex (NYSE:CX) last released its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $4.59 billion for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. On average, sell-side analysts expect that Cemex will post 0.91 EPS for the current year.

Cemex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th were issued a $0.0312 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 1.3%. Cemex’s dividend payout ratio is presently 35.29%.

About Cemex

CEMEX, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces, distributes and sells cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.

CEMEX also provides construction solutions and services, including concrete products, paving materials, building systems and digital tools designed to support construction professionals and customers. Its operations and commercial activities serve markets across Mexico, the United States, Europe, South and Central America, the Caribbean, Africa and the Middle East.

The company traces its origins to 1906, when Cementos Hidalgo began operations in Mexico.