Cemex S.A.B. de C.V. (NYSE:CX) Receives $11.04 Consensus Target Price from Brokerages

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $11.0389.

CX has been the subject of several recent analyst reports. Barclays restated an “overweight” rating and issued a $15.00 target price on shares of Cemex in a research note on Tuesday, January 27th. Scotiabank raised their price objective on Cemex from $11.10 to $13.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. HSBC lowered Cemex from a “buy” rating to a “hold” rating and set a $12.80 target price on the stock. in a research report on Friday, February 6th. Zacks Research lowered Cemex from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st.

Hedge Funds Weigh In On Cemex

Hedge funds have recently made changes to their positions in the company. WealthCollab LLC lifted its holdings in Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after acquiring an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after purchasing an additional 3,093 shares during the period. Ameriflex Group Inc. increased its holdings in shares of Cemex by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock valued at $31,000 after purchasing an additional 1,744 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Cemex in the 4th quarter valued at $34,000. Finally, Reyes Financial Architecture Inc. acquired a new position in shares of Cemex in the 3rd quarter valued at $36,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Cemex Stock Down 3.6%

Shares of NYSE CX traded down $0.41 during mid-day trading on Friday, reaching $10.93. 8,505,832 shares of the company were exchanged, compared to its average volume of 6,190,177. The stock has a market cap of $15.84 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 0.76 and a beta of 1.60. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average of $12.35 and a 200 day moving average of $10.76. Cemex has a 1 year low of $4.89 and a 1 year high of $13.35.

Cemex (NYSE:CX) last released its quarterly earnings results on Thursday, February 5th. The construction company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.38). Cemex had a net margin of 5.93% and a return on equity of 2.85%. The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.01 billion. On average, research analysts expect that Cemex will post 0.69 earnings per share for the current year.

Cemex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th will be issued a $0.0225 dividend. This is an increase from Cemex’s previous quarterly dividend of $0.02. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Cemex’s dividend payout ratio is 13.64%.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.