Brokerages Set Cemex S.A.B. de C.V. (NYSE:CX) Target Price at $11.38

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

Several research firms recently commented on CX. Zacks Research lowered shares of Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Barclays restated an “overweight” rating on shares of Cemex in a research report on Thursday, March 12th. Morgan Stanley raised shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a report on Monday, March 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. Finally, HSBC cut shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 price objective for the company. in a research note on Friday, February 6th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CX. JPMorgan Chase & Co. boosted its holdings in Cemex by 84.9% in the third quarter. JPMorgan Chase & Co. now owns 4,529,612 shares of the construction company’s stock valued at $40,721,000 after acquiring an additional 2,080,341 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in Cemex during the third quarter worth about $1,124,000. WCM Investment Management LLC acquired a new stake in Cemex during the third quarter worth about $48,699,000. Allianz Asset Management GmbH purchased a new position in shares of Cemex in the 3rd quarter worth about $1,059,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Cemex by 84.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 195,439 shares of the construction company’s stock worth $1,757,000 after purchasing an additional 89,465 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Cemex Stock Performance

Shares of CX stock opened at $10.74 on Wednesday. The stock has a fifty day moving average price of $11.93 and a 200 day moving average price of $10.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 0.83. The stock has a market cap of $15.55 billion, a PE ratio of 16.27 and a beta of 1.60. Cemex has a 1 year low of $4.89 and a 1 year high of $13.35.

Cemex (NYSE:CX) last posted its earnings results on Thursday, February 5th. The construction company reported ($0.19) earnings per share 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 during the quarter, compared to analyst estimates of $4.01 billion. Sell-side analysts forecast that Cemex will post 0.69 earnings per share for the current fiscal year.

Cemex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This is a positive change from Cemex’s previous quarterly dividend of $0.02. This represents a $0.09 annualized dividend and a yield of 0.8%. Cemex’s dividend payout ratio (DPR) is 13.64%.

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.