Cemex (NYSE:CX) Releases Earnings Results, Beats Estimates By $0.03 EPS

Cemex (NYSE:CX) announced its earnings results on Monday. The construction company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03, FiscalAI reports. The firm had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Cemex had a return on equity of 3.82% and a net margin of 2.83%.

Cemex Stock Performance

CX stock opened at $10.21 on Monday. Cemex has a one year low of $9.30 and a one year high of $13.67. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of 30.02 and a beta of 1.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92. The firm has a 50-day simple moving average of $10.26 and a two-hundred day simple moving average of $11.61.

Cemex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.0312 per share. This represents a $0.12 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Cemex’s dividend payout ratio (DPR) is 35.29%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Scotiabank lifted their price objective on shares of Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada cut their price target on shares of Cemex from $13.50 to $13.25 and set a “sector perform” rating on the stock in a report on Friday, October 9th. Wall Street Zen lowered shares of Cemex from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a research note on Friday, August 21st. Finally, Zacks Research lowered Cemex from a “hold” rating to a “strong sell” rating in a research report on Thursday. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.94.

Insider Transactions at Cemex

In related news, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $10.68, for a total transaction of $2,271,422.40. Following the completion of the transaction, the vice president owned 289,490 shares in the company, valued at $3,091,753.20. The trade was a 42.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Zambrano Lozano bought 400,800 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The shares were purchased at an average cost of $17.28 per share, with a total value of $6,925,824.00. Following the transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at $172,800,000. The trade was a 4.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Cemex Company Profile

Cemex, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces and markets cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.

Cemex also provides construction solutions and services, including materials distribution, logistics and digital tools designed to support contractors, builders and other customers. Its products serve a broad range of applications, from housing and commercial development to roads, bridges, airports and other major infrastructure.

Founded in Mexico in 1906, Cemex has expanded through organic growth and acquisitions into an international business serving customers across the Americas, Europe, Africa, the Middle East and Asia.