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

CEMEX, S.A.B. de C.V. (NYSE:CX)’s stock price reached a new 52-week low on Monday . The stock traded as low as $5.45 and last traded at $5.47, with a volume of 3211456 shares changing hands. The stock had previously closed at $5.98.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group began coverage on shares of CEMEX in a research report on Wednesday, July 10th. They set a “buy” rating and a $9.00 target price on the stock. Royal Bank of Canada raised shares of CEMEX from an “underperform” rating to a “sector perform” rating and lowered their price objective for the stock from $9.00 to $6.50 in a research note on Tuesday, October 8th. Barclays raised shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of CEMEX from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.12.

CEMEX Stock Performance

The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $7.81 billion, a PE ratio of 39.21 and a beta of 1.47. The firm has a 50 day moving average price of $6.08 and a 200-day moving average price of $6.71.

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

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were paid a dividend of $0.021 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s payout ratio is 28.57%.

Institutional Investors Weigh In On CEMEX

Hedge funds have recently modified their holdings of the company. Thompson Davis & CO. Inc. increased its position in shares of CEMEX by 6.3% in the first quarter. Thompson Davis & CO. Inc. now owns 26,800 shares of the construction company’s stock valued at $241,000 after buying an additional 1,600 shares in the last quarter. Lesa Sroufe & Co raised its position in shares of CEMEX by 0.4% in the first quarter. Lesa Sroufe & Co now owns 400,951 shares of the construction company’s stock valued at $3,613,000 after buying an additional 1,731 shares during the last quarter. Allworth Financial LP lifted its stake in shares of CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after buying an additional 1,747 shares in the last quarter. Claro Advisors LLC grew its stake in CEMEX by 6.9% during the 1st quarter. Claro Advisors LLC now owns 30,842 shares of the construction company’s stock valued at $278,000 after acquiring an additional 1,998 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its holdings in CEMEX by 7.1% in the 1st quarter. Atomi Financial Group Inc. now owns 33,700 shares of the construction company’s stock valued at $304,000 after acquiring an additional 2,241 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

About CEMEX

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.