CEMEX (NYSE:CX) Downgraded to Buy at StockNews.com

StockNews.com cut shares of CEMEX (NYSE:CX) from a strong-buy rating to a buy rating in a report published on Friday.

CX has been the topic of a number of other research reports. Royal Bank of Canada raised shares of CEMEX from an underperform rating to a sector perform rating and dropped their price target for the company from $9.00 to $6.50 in a report on Tuesday. Barclays upgraded CEMEX from an equal weight rating to an overweight rating and set a $9.00 price target on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group began coverage on CEMEX in a research report on Wednesday, July 10th. They set a buy rating and a $9.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on CEMEX from $8.00 to $7.00 and set an overweight rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $8.12.

CEMEX Stock Down 0.2 %

Shares of NYSE CX opened at $6.15 on Friday. The firm has a fifty day simple moving average of $6.17 and a two-hundred day simple moving average of $6.95. CEMEX has a 12 month low of $5.50 and a 12 month high of $9.27. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $8.90 billion, a PE ratio of 51.21 and a beta of 1.47.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The company had revenue of $4.49 billion during the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. Equities analysts expect that CEMEX will post 0.79 earnings per share for the current year.

CEMEX Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were issued a $0.021 dividend. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio is presently 33.34%.

Institutional Investors Weigh In On CEMEX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning grew its position in CEMEX by 13.7% during the 3rd quarter. Creative Planning now owns 197,992 shares of the construction company’s stock worth $1,208,000 after purchasing an additional 23,896 shares during the period. Perpetual Ltd raised its holdings in shares of CEMEX by 12.6% during the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock valued at $61,089,000 after acquiring an additional 1,117,379 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in CEMEX in the 2nd quarter valued at $228,000. Dark Forest Capital Management LP purchased a new position in CEMEX during the second quarter worth approximately $162,000. Finally, Employees Retirement System of Texas grew its stake in shares of CEMEX by 13.8% in the 2nd quarter. Employees Retirement System of Texas now owns 183,663 shares of the construction company’s stock valued at $1,174,000 after buying an additional 22,214 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.