Cemex S.A.B. de C.V. (NYSE:CX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cemex S.A.B. de C.V. (NYSE:CX) has received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $13.0667.

CX has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Santander upgraded shares of Cemex to an “outperform” rating in a report on Thursday, June 11th. Finally, Barclays upped their price target on shares of Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th.

Institutional Investors Weigh In On Cemex

A number of large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its holdings in shares of Cemex by 5.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock valued at $193,000 after buying an additional 913 shares during the period. Ameriprise Financial Inc. grew its position in Cemex by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock valued at $2,875,000 after acquiring an additional 1,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Cemex by 4.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock valued at $329,000 after acquiring an additional 1,288 shares in the last quarter. Ieq Capital LLC raised its stake in shares of Cemex by 7.6% during the fourth quarter. Ieq Capital LLC now owns 19,598 shares of the construction company’s stock valued at $225,000 after purchasing an additional 1,380 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Cemex by 3.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock valued at $387,000 after purchasing an additional 1,389 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Cemex Stock Performance

Shares of NYSE:CX opened at $11.82 on Tuesday. The firm has a market capitalization of $17.12 billion, a PE ratio of 34.75 and a beta of 1.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68. The business has a 50-day moving average of $12.51 and a two-hundred day moving average of $12.22. Cemex has a 12 month low of $8.17 and a 12 month high of $13.67.

Cemex (NYSE:CX) last released its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%.The business had revenue of $4.59 billion for the quarter. As a group, research analysts forecast that Cemex will post 0.87 earnings per share for the current year.

Cemex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.0312 per share. This is a boost from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, June 17th. Cemex’s payout ratio is presently 35.29%.

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.