Cemex S.A.B. de C.V. (NYSE:CX) Stock Has Consensus Target Price of $13.92

Cemex S.A.B. de C.V. (NYSE:CX) has earned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $13.92.

A number of equities research analysts recently issued reports on CX shares. Scotiabank reduced their price target on Cemex from $14.50 to $13.80 and set a “sector outperform” rating on the stock in a research report on Tuesday, October 27th. Royal Bank Of Canada lifted their price objective on Cemex from $13.25 to $13.75 and gave the company a “sector perform” rating in a report on Tuesday, October 27th. Barclays upped their target price on Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Citigroup upgraded Cemex from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $13.70 to $12.00 in a research report on Thursday, October 15th. Finally, Weiss Ratings upgraded Cemex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 29th.

Cemex Price Performance

Shares of Cemex stock opened at $10.76 on Thursday. Cemex has a twelve month low of $9.30 and a twelve month high of $13.67. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $10.22 and a two-hundred day simple moving average of $11.61. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 24.44 and a beta of 1.59.

Cemex (NYSE:CX) last announced its earnings results on Monday, October 26th. The construction company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Cemex had a net margin of 3.60% and a return on equity of 5.18%. The firm had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.47 billion. Analysts forecast that Cemex will post 0.87 EPS for the current year.

Cemex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th were issued a $0.0312 dividend. This represents a $0.12 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Cemex’s dividend payout ratio (DPR) is currently 27.27%.

Insider Buying and Selling at Cemex

In other news, EVP Mauricio Doehner sold 927,900 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $9.57, for a total transaction of $8,880,003.00. Following the completion of the sale, the executive vice president owned 584,930 shares of the company’s stock, valued at approximately $5,597,780.10. This represents a 61.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Zambrano Lozano purchased 400,800 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were purchased at an average cost of $17.28 per share, with a total value of $6,925,824.00. Following the acquisition, the director owned 10,000,000 shares in the company, valued at $172,800,000. This trade represents a 4.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Letko Brosseau & Associates Inc. increased its position in Cemex by 0.5% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 3,612,075 shares of the construction company’s stock worth $34,351,000 after purchasing an additional 18,650 shares in the last quarter. R Squared Ltd boosted its position in Cemex by 57.8% in the third quarter. R Squared Ltd now owns 34,304 shares of the construction company’s stock valued at $326,000 after buying an additional 12,570 shares in the last quarter. Ethic Inc. acquired a new stake in Cemex in the third quarter valued at approximately $132,000. Integrity Alliance LLC. bought a new stake in shares of Cemex during the third quarter worth $112,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Cemex during the third quarter worth $216,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Company Profile

Cemex is a global building materials company headquartered in San Pedro Garza García, Mexico. Founded in Mexico in 1906, it has grown through expansion and acquisitions into an international supplier serving construction and infrastructure markets.

The company produces and sells cement, ready-mix concrete and aggregates, including sand and gravel. It also provides related building-materials and construction solutions, along with services such as logistics and materials delivery.

Cemex serves customers across the Americas, Europe, the Middle East, Africa and Asia.