CEMEX (NYSE:CX) Trading 4.2% Higher – Still a Buy?

CEMEX, S.A.B. de C.V. (NYSE:CX) was up 4.2% on Tuesday . The stock traded as high as $6.30 and last traded at $6.32. Approximately 3,967,988 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 9,585,225 shares. The stock had previously closed at $6.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group upped their target price on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Royal Bank of Canada raised their price target on shares of CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.82.

CEMEX Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. The stock’s fifty day simple moving average is $6.15 and its two-hundred day simple moving average is $5.89. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 9.58 and a beta of 1.45.

CEMEX (NYSE:CX) last released its earnings results on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. On average, sell-side analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were paid a dividend of $0.0207 per share. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s dividend payout ratio is presently 12.70%.

Institutional Investors Weigh In On CEMEX

Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc raised its holdings in CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after buying an additional 3,062 shares during the period. Barclays PLC raised its holdings in shares of CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after acquiring an additional 1,843 shares during the period. Townsquare Capital LLC purchased a new stake in shares of CEMEX in the 4th quarter valued at approximately $57,000. Dark Forest Capital Management LP acquired a new position in CEMEX in the 4th quarter worth approximately $59,000. Finally, Raiffeisen Bank International AG purchased a new position in CEMEX during the 4th quarter worth approximately $59,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.