Cemex (NYSE:CX) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Cemex (NYSE:CX) from a buy rating to a hold rating in a report published on Saturday morning.

A number of other equities analysts have also recently weighed in on CX. Bank of America lifted their price target on shares of Cemex from $8.60 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Barclays boosted their price objective on shares of Cemex from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. raised shares of Cemex from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Cemex in a research report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cemex presently has an average rating of “Hold” and a consensus target price of $9.14.

Cemex Trading Up 2.2%

Shares of NYSE CX opened at $9.36 on Friday. The company’s fifty day moving average is $9.02 and its 200-day moving average is $7.51. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 1.48 and a beta of 1.51. Cemex has a twelve month low of $4.89 and a twelve month high of $9.61. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Cemex had a net margin of 9.61% and a return on equity of 6.89%. Equities research analysts predict that Cemex will post 0.69 EPS for the current year.

Cemex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 17th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.09 annualized dividend and a yield of 1.0%. Cemex’s payout ratio is 8.82%.

Institutional Investors Weigh In On Cemex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WealthCollab LLC lifted its position in Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after buying an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after buying an additional 3,093 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Cemex by 63.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after buying an additional 2,027 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Cemex during the 1st quarter worth about $29,000. Finally, Militia Capital Partners LP acquired a new position in shares of Cemex during the 2nd quarter worth about $46,000. 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.