Cemex (NYSE:CX) Reaches New 52-Week High – Time to Buy?

Shares of Cemex S.A.B. de C.V. (NYSE:CX) reached a new 52-week high on Monday . The company traded as high as $9.51 and last traded at $9.45, with a volume of 147132 shares trading hands. The stock had previously closed at $9.40.

Analyst Upgrades and Downgrades

CX has been the subject of a number of analyst reports. Barclays raised their price target on Cemex from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Itau BBA Securities downgraded Cemex from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. raised Cemex from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. Bank of America raised their price objective on Cemex from $8.60 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.02.

Cemex Price Performance

The stock has a market capitalization of $13.72 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.52 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86. The company has a fifty day simple moving average of $8.24 and a two-hundred day simple moving average of $6.94.

Cemex (NYSE:CX) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.20 billion. As a group, equities research analysts expect that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a $0.0224 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.09 annualized dividend and a dividend yield of 0.9%. Cemex’s dividend payout ratio (DPR) is presently 7.84%.

Hedge Funds Weigh In On Cemex

Hedge funds and other institutional investors have recently modified their holdings of the business. WealthCollab LLC grew 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 acquiring an additional 1,580 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Cemex during the 1st quarter worth $29,000. Northwestern Mutual Wealth Management Co. grew 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 acquiring an additional 3,093 shares during the last quarter. Farther Finance Advisors LLC grew 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 acquiring an additional 2,027 shares during the last quarter. Finally, Militia Capital Partners LP bought a new stake in Cemex during the 2nd quarter worth $46,000. Institutional investors own 82.97% of the company’s stock.

Cemex Company Profile

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.