Cemex S.A.B. de C.V. (CX) Receives $10.78 Average Price Target from Brokerages
Shares of Cemex S.A.B. de C.V. (NYSE:CX) have been given a consensus rating of “Buy” by the thirteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $10.78.
A number of research analysts recently weighed in on the stock. Bank of America Corporation upgraded shares of Cemex S.A.B. de C.V. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $10.10 to $10.60 in a research note on Tuesday, June 20th. BidaskClub upgraded Cemex S.A.B. de C.V. from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Berenberg Bank restated a “hold” rating and set a $8.40 target price on shares of Cemex S.A.B. de C.V. in a research report on Thursday, July 27th. Zacks Investment Research lowered Cemex S.A.B. de C.V. from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, ValuEngine lowered Cemex S.A.B. de C.V. from a “buy” rating to a “hold” rating in a report on Saturday.
Shares of Cemex S.A.B. de C.V. (NYSE CX) traded down 0.33% during mid-day trading on Friday, reaching $9.05. 2,466,319 shares of the company’s stock traded hands. Cemex S.A.B. de C.V. has a 12-month low of $6.91 and a 12-month high of $10.37. The company has a market cap of $135.74 billion, a P/E ratio of 117.53 and a beta of 1.31. The firm has a 50-day moving average of $9.18 and a 200 day moving average of $9.10.
Cemex S.A.B. de C.V. (NYSE:CX) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Cemex S.A.B. de C.V. had a return on equity of 8.94% and a net margin of 8.34%. The company had revenue of $3.58 billion during the quarter. Equities analysts forecast that Cemex S.A.B. de C.V. will post $0.56 EPS for the current year.
Several hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC bought a new stake in Cemex S.A.B. de C.V. during the second quarter valued at $100,000. Huntington National Bank grew its position in Cemex S.A.B. de C.V. by 19.0% during the second quarter. Huntington National Bank now owns 10,775 shares of the construction company’s stock worth $102,000 after buying an additional 1,722 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Cemex S.A.B. de C.V. during the first quarter worth about $100,000. JFS Wealth Advisors LLC grew its position in Cemex S.A.B. de C.V. by 2.9% during the second quarter. JFS Wealth Advisors LLC now owns 11,306 shares of the construction company’s stock worth $107,000 after buying an additional 315 shares in the last quarter. Finally, First Financial Equity Corporation purchased a new position in Cemex S.A.B. de C.V. during the first quarter worth about $101,000. Institutional investors own 40.19% of the company’s stock.
About Cemex S.A.B. de C.V.
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.
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