Cemex S.A.B. de C.V. (NYSE:CX) Given Average Rating of “Hold” by Brokerages

Cemex S.A.B. de C.V. (NYSE:CX) has been given an average recommendation of “Hold” by the thirteen analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $11.3750.

A number of equities research analysts have weighed in on the company. Zacks Research downgraded Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Barclays reiterated an “overweight” rating on shares of Cemex in a research report on Thursday, March 12th. Scotiabank upgraded Cemex from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $13.50 to $13.90 in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Finally, Morgan Stanley raised Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a report on Monday, March 23rd.

Cemex Stock Performance

Shares of CX opened at $10.74 on Wednesday. The firm has a 50-day moving average price of $11.93 and a 200 day moving average price of $10.95. The firm has a market capitalization of $15.55 billion, a PE ratio of 16.27 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 0.39. Cemex has a 52-week low of $4.89 and a 52-week high of $13.35.

Cemex (NYSE:CX) last issued its quarterly earnings results on Thursday, February 5th. The construction company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.38). Cemex had a return on equity of 2.85% and a net margin of 5.93%.The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.01 billion. On average, sell-side analysts anticipate that Cemex will post 0.69 earnings per share for the current fiscal year.

Cemex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Wednesday, March 11th were paid a $0.0225 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.09 annualized dividend and a dividend yield of 0.8%. This is an increase from Cemex’s previous quarterly dividend of $0.02. Cemex’s dividend payout ratio is presently 13.64%.

Institutional Trading of Cemex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC acquired a new position in Cemex in the fourth quarter worth approximately $34,000. Ameriflex Group Inc. increased its holdings in shares of Cemex by 100.0% in the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock valued at $31,000 after buying an additional 1,744 shares in the last quarter. WealthCollab LLC lifted its position in shares of Cemex by 73.7% during the 2nd 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 last quarter. Reyes Financial Architecture Inc. bought a new stake in shares of Cemex during the 3rd quarter worth $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted 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 acquiring an additional 3,093 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

About Cemex

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.