Cemex SAB de CV Target of Unusually High Options Trading (CX)
Cemex SAB de CV (NYSE:CX) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 12,403 put options on the stock. This is an increase of approximately 1,003% compared to the typical daily volume of 1,124 put options.
Several equities analysts have commented on CX shares. Citigroup raised shares of Cemex SAB de CV from a “sell” rating to a “neutral” rating and set a $9.00 target price on the stock in a research note on Monday, October 23rd. Zacks Investment Research lowered shares of Cemex SAB de CV from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. ValuEngine lowered shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. J P Morgan Chase & Co reduced their price objective on shares of Cemex SAB de CV from $11.20 to $10.60 and set an “overweight” rating for the company in a research report on Monday, October 30th. Finally, Bank of America lowered shares of Cemex SAB de CV from a “buy” rating to a “neutral” rating and raised their price objective for the company from $10.60 to $10.70 in a research report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $10.76.
Institutional investors and hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC acquired a new position in shares of Cemex SAB de CV in the second quarter worth about $100,000. Institute for Wealth Management LLC. acquired a new position in shares of Cemex SAB de CV in the second quarter worth about $115,000. Raymond James Trust N.A. acquired a new position in shares of Cemex SAB de CV in the third quarter worth about $141,000. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of Cemex SAB de CV in the third quarter worth about $156,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Cemex SAB de CV by 111.2% in the second quarter. Daiwa Securities Group Inc. now owns 18,597 shares of the construction company’s stock worth $175,000 after buying an additional 9,792 shares during the period. Institutional investors own 40.44% of the company’s stock.
Cemex SAB de CV (NYSE:CX) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Cemex SAB de CV had a net margin of 8.38% and a return on equity of 8.71%. sell-side analysts expect that Cemex SAB de CV will post 0.52 earnings per share for the current year.
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About Cemex SAB de CV
CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in over 50 countries throughout the world.
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