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

Cemex S.A.B. de C.V. (NYSE:CX)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $12.81 and last traded at $12.8150, with a volume of 989251 shares trading hands. The stock had previously closed at $12.49.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Scotiabank lowered shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price target for the company. in a report on Tuesday, October 21st. Bank of America upgraded Cemex from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $10.80 in a report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research note on Wednesday, October 8th. Citigroup downgraded shares of Cemex from a “buy” rating to a “neutral” rating and raised their target price for the stock from $9.00 to $10.00 in a report on Monday, October 13th. Finally, Wall Street Zen upgraded shares of Cemex from a “hold” rating to a “buy” rating in a report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.14.

Cemex Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 0.91 and a quick ratio of 0.67. The stock has a market capitalization of $18.53 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.84 and a beta of 1.59. The company’s 50-day simple moving average is $11.31 and its 200-day simple moving average is $9.78.

Cemex (NYSE:CX) last issued its earnings results on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.01 by $0.15. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $226.73 million. Cemex had a return on equity of 6.85% and a net margin of 8.62%. As a group, sell-side analysts expect that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were paid a $0.0224 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. Cemex’s dividend payout ratio is 9.68%.

Institutional Investors Weigh In On Cemex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its holdings in Cemex by 7.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,889 shares of the construction company’s stock valued at $143,000 after acquiring an additional 1,070 shares in the last quarter. Ameriprise Financial Inc. grew its position in Cemex by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock valued at $2,875,000 after acquiring an additional 1,221 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Cemex by 5.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 24,201 shares of the construction company’s stock worth $218,000 after acquiring an additional 1,268 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Cemex by 3.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after buying an additional 1,389 shares during the last quarter. Finally, WealthCollab LLC raised its holdings in Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after buying an additional 1,580 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.