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

Cemex S.A.B. de C.V. (NYSE:CX)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.50 and last traded at $12.4350, with a volume of 475679 shares traded. The stock had previously closed at $12.42.

Wall Street Analysts Forecast Growth

CX has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research note on Wednesday, October 8th. Bank of America upgraded shares of Cemex from a “neutral” rating to a “buy” rating and boosted their target price for the company from $10.00 to $10.80 in a report on Wednesday, October 15th. The Goldman Sachs Group upped their target price on shares of Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Barclays lifted their price target on shares of Cemex from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.14.

Cemex Trading Down 0.4%

The stock has a market cap of $17.96 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.59. The firm has a 50-day moving average price of $11.09 and a 200-day moving average price of $9.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.91.

Cemex (NYSE:CX) last released its quarterly earnings data on Tuesday, October 28th. The construction company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $226.73 million. Cemex had a net margin of 8.62% and a return on equity of 6.85%. As a group, equities analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Dividend Announcement

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

Institutional Trading of Cemex

Institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its stake in shares of Cemex by 334.7% in the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after purchasing an additional 7,075 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Cemex by 58.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock worth $40,320,000 after buying an additional 2,661,030 shares in the last quarter. Farther Finance Advisors LLC raised its position in Cemex by 63.7% in the 2nd 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 during the last quarter. Ballentine Partners LLC lifted its stake in Cemex by 13.7% during the 2nd quarter. Ballentine Partners LLC now owns 33,213 shares of the construction company’s stock valued at $230,000 after acquiring an additional 4,002 shares during the period. Finally, Kathmere Capital Management LLC purchased a new stake in shares of Cemex during the 2nd quarter valued at about $109,000. 82.97% of the stock is currently owned by hedge funds and other 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.