Cemex (NYSE:CX) Reaches New 1-Year High – Here’s What Happened

Shares of Cemex S.A.B. de C.V. (NYSE:CX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.12 and last traded at $12.77, with a volume of 5425107 shares. The stock had previously closed at $12.91.

Wall Street Analysts Forecast Growth

CX has been the topic of a number of recent research reports. Citigroup downgraded Cemex from a “buy” rating to a “neutral” rating and increased their target price for the company from $9.00 to $10.00 in a report on Monday, October 13th. Royal Bank Of Canada upped their price target on shares of Cemex from $7.00 to $8.25 and gave the company an “underperform” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Bank of America upgraded shares of Cemex from a “neutral” rating to a “buy” rating and boosted their target price for the company from $10.00 to $10.80 in a research report on Wednesday, October 15th. Finally, Barclays reaffirmed an “overweight” rating and set a $15.00 target price on shares of Cemex in a report on Tuesday. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.52.

Cemex Trading Up 2.3%

The stock has a 50-day moving average price of $11.64 and a two-hundred day moving average price of $10.00. The stock has a market capitalization of $19.09 billion, a PE ratio of 14.17, a PEG ratio of 0.87 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.91.

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

Cemex Dividend Announcement

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

Institutional Investors Weigh In On Cemex

Institutional investors and hedge funds have recently bought and sold shares of the business. WealthCollab LLC boosted 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 worth $26,000 after acquiring an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Cemex by 256.7% in the 2nd 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. Ameriflex Group Inc. boosted its stake in Cemex by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after purchasing an additional 1,744 shares during the period. Farther Finance Advisors LLC grew its holdings in Cemex by 63.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after buying an additional 2,027 shares in the last quarter. Finally, Reyes Financial Architecture Inc. bought a new stake in shares of Cemex during the third quarter valued at approximately $36,000. 82.97% of the stock is owned by institutional investors.

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.