Cemex S.A.B. de C.V. (NYSE:CX) Receives $11.83 Average Price Target from Analysts

Cemex S.A.B. de C.V. (NYSE:CX) has been assigned an average rating of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $11.8278.

Several equities analysts have weighed in on CX shares. Scotiabank lifted their price objective on shares of Cemex from $13.90 to $14.10 and gave the stock an “outperform” rating in a research report on Friday, April 10th. Zacks Research downgraded shares of Cemex from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Morgan Stanley raised Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price target for the company in a report on Monday, March 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. Finally, Barclays reaffirmed an “overweight” rating on shares of Cemex in a research report on Thursday, March 12th.

Hedge Funds Weigh In On Cemex

A number of hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new position in Cemex during the fourth quarter worth $34,000. Ameriflex Group Inc. grew its stake in Cemex by 100.0% during the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after buying an additional 1,744 shares during the last quarter. WealthCollab LLC raised its stake in shares of Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after acquiring an additional 1,580 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new position in shares of Cemex in the 3rd quarter worth approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after purchasing an additional 3,093 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Cemex Price Performance

CX stock opened at $12.53 on Friday. Cemex has a one year low of $5.57 and a one year high of $13.35. The firm has a 50-day moving average of $11.56 and a two-hundred day moving average of $11.26. The firm has a market capitalization of $18.15 billion, a PE ratio of 18.98 and a beta of 1.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.39.

Cemex (NYSE:CX) last released its earnings results on Thursday, April 23rd. The construction company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. Cemex had a net margin of 5.93% and a return on equity of 2.85%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.86 billion. On average, analysts forecast that Cemex will post 0.85 earnings per share for the current year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Wednesday, March 11th were given a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 0.7%. This is a boost from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Wednesday, March 11th. Cemex’s dividend payout ratio (DPR) is currently 13.64%.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.