CEMEX (NYSE:CX) PT Lowered to $8.00 at Barclays

CEMEX (NYSE:CX) had its target price cut by Barclays from $9.00 to $8.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of CEMEX in a research note on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price objective on the stock. Royal Bank of Canada upgraded shares of CEMEX from an “underperform” rating to a “sector perform” rating and dropped their target price for the company from $9.00 to $6.50 in a report on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of CEMEX from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $6.00 in a report on Tuesday. Finally, StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CEMEX has an average rating of “Moderate Buy” and a consensus price target of $7.87.

CEMEX Stock Performance

Shares of CEMEX stock opened at $5.25 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. CEMEX has a twelve month low of $5.21 and a twelve month high of $9.27. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 37.50 and a beta of 1.47. The company’s fifty day moving average is $6.06 and its 200 day moving average is $6.69.

CEMEX Cuts Dividend

The company also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were paid 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 28.57%.

Institutional Investors Weigh In On CEMEX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC bought a new position in CEMEX in the 2nd quarter valued at about $33,000. Allworth Financial LP lifted its position in CEMEX by 36.0% in the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after acquiring an additional 1,747 shares in the last quarter. KCM Investment Advisors LLC bought a new position in CEMEX in the 1st quarter valued at about $91,000. Hennion & Walsh Asset Management Inc. bought a new position in CEMEX in the 1st quarter valued at about $102,000. Finally, Oppenheimer & Co. Inc. bought a new position in CEMEX in the 1st quarter valued at about $114,000. 82.97% of the stock is owned by 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.