Cemex (NYSE:CX) Reaches New 1-Year High – What’s Next?

Cemex S.A.B. de C.V. (NYSE:CX)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $13.12 and last traded at $12.77, with a volume of 5425107 shares traded. The stock had previously closed at $12.91.

Analysts Set New Price Targets

A number of research analysts have issued reports on CX shares. The Goldman Sachs Group upped their price objective on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Royal Bank Of Canada increased their price target on shares of Cemex from $7.00 to $8.25 and gave the company an “underperform” rating in a research report on Wednesday, October 29th. Barclays lifted their price objective on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Citigroup downgraded shares of Cemex from a “buy” rating to a “neutral” rating and increased their target price for the company from $9.00 to $10.00 in a research report on Monday, October 13th. Finally, Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a report on Tuesday, November 4th. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.14.

Cemex Price Performance

The stock has a market cap of $18.50 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 0.87 and a beta of 1.59. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $11.53 and its two-hundred day simple moving average is $9.94.

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

Cemex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were given a dividend of $0.0224 per share. The ex-dividend date was Monday, December 15th. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. Cemex’s dividend payout ratio is currently 9.68%.

Institutional Trading of Cemex

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthCollab LLC lifted its holdings in Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after purchasing an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares during the period. Ameriflex Group Inc. increased its position in shares of Cemex by 100.0% during 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 during the period. Farther Finance Advisors LLC lifted its holdings in shares of Cemex by 63.7% in the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after buying an additional 2,027 shares in the last quarter. Finally, Reyes Financial Architecture Inc. bought a new position in shares of Cemex in the third quarter valued at approximately $36,000. 82.97% of the stock is currently owned by institutional investors.

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.