CEMEX SAB de CV (NYSE:CX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “

Other analysts also recently issued research reports about the stock. Scotiabank raised shares of CEMEX SAB de CV from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, June 16th. Morgan Stanley restated an “equal weight” rating on shares of CEMEX SAB de CV in a research report on Monday, August 15th. Vetr upgraded shares of CEMEX SAB de CV from a “buy” rating to a “strong-buy” rating and set a $9.74 target price for the company in a research report on Tuesday, September 6th. TheStreet upgraded shares of CEMEX SAB de CV from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Finally, Santander cut shares of CEMEX SAB de CV from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. CEMEX SAB de CV presently has a consensus rating of “Buy” and a consensus target price of $8.80.

Analyst Recommendations for CEMEX SAB de CV (NYSE:CX)

CEMEX SAB de CV (NYSE:CX) traded down 1.53% during trading on Friday, hitting $8.36. 7,594,235 shares of the company were exchanged. CEMEX SAB de CV has a 12 month low of $3.50 and a 12 month high of $9.09. The company has a market capitalization of $117.09 billion, a price-to-earnings ratio of 398.10 and a beta of 2.31. The company has a 50-day moving average of $8.02 and a 200-day moving average of $7.22.

CEMEX SAB de CV (NYSE:CX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. CEMEX SAB de CV had a net margin of 2.44% and a return on equity of 2.76%. Analysts forecast that CEMEX SAB de CV will post $0.24 EPS for the current year.

A number of institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of CEMEX SAB de CV during the second quarter valued at approximately $71,364,000. Acadian Asset Management LLC raised its position in shares of CEMEX SAB de CV by 1,356.2% in the second quarter. Acadian Asset Management LLC now owns 11,449,951 shares of the company’s stock valued at $70,643,000 after buying an additional 10,663,652 shares during the period. American Century Companies Inc. raised its position in shares of CEMEX SAB de CV by 80.7% in the second quarter. American Century Companies Inc. now owns 12,716,007 shares of the company’s stock valued at $78,458,000 after buying an additional 5,678,016 shares during the period. Dodge & Cox increased its stake in CEMEX SAB de CV by 9.1% in the first quarter. Dodge & Cox now owns 47,104,125 shares of the company’s stock valued at $342,918,000 after buying an additional 3,936,990 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in CEMEX SAB de CV by 83.2% in the second quarter. Parametric Portfolio Associates LLC now owns 8,090,485 shares of the company’s stock valued at $49,918,000 after buying an additional 3,673,880 shares in the last quarter. 31.56% of the stock is owned by hedge funds and other institutional investors.

About CEMEX SAB de CV

CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in over 50 countries throughout the world.

5 Day Chart for NYSE:CX

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