Cemex (NYSE:CX) Sets New 1-Year High – Here’s Why

Cemex S.A.B. de C.V. (NYSE:CX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $10.84 and last traded at $10.7550, with a volume of 3016495 shares changing hands. The stock had previously closed at $10.60.

Wall Street Analyst Weigh In

Several research firms have commented on CX. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a report on Tuesday, November 4th. Barclays upped their price target on shares of Cemex from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Scotiabank lowered shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price objective for the company. in a research note on Tuesday, October 21st. Citigroup cut shares of Cemex from a “buy” rating to a “neutral” rating and boosted their target price for the company from $9.00 to $10.00 in a report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.14.

Cemex Stock Up 1.4%

The stock has a 50-day moving average of $9.76 and a 200-day moving average of $8.57. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. The company has a market cap of $15.57 billion, a PE ratio of 11.55, a P/E/G ratio of 1.17 and a beta of 1.56.

Cemex (NYSE:CX) last released its quarterly earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.15. Cemex had a return on equity of 6.85% and a net margin of 8.62%.The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $226.73 million. Sell-side analysts predict that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th were issued a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 17th. Cemex’s payout ratio is currently 9.68%.

Institutional Investors Weigh In On Cemex

A number of large investors have recently added to or reduced their stakes in CX. Sequoia Financial Advisors LLC lifted its stake in Cemex by 7.2% during the third quarter. Sequoia Financial Advisors LLC now owns 15,889 shares of the construction company’s stock worth $143,000 after purchasing an additional 1,070 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Cemex by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock valued at $2,875,000 after buying an additional 1,221 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Cemex by 5.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,201 shares of the construction company’s stock worth $218,000 after buying an additional 1,268 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Cemex by 3.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after buying an additional 1,389 shares during the last quarter. Finally, WealthCollab LLC boosted its stake in Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after buying an additional 1,580 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.