CEMEX (NYSE:CX) Trading 5.3% Higher – Time to Buy?

CEMEX, S.A.B. de C.V. (NYSE:CX) rose 5.3% during mid-day trading on Monday . The company traded as high as $6.17 and last traded at $6.23. Approximately 2,341,574 shares traded hands during trading, a decline of 78% from the average daily volume of 10,749,562 shares. The stock had previously closed at $5.92.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CX. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. Bradesco Corretora set a $7.50 target price on CEMEX and gave the company a “neutral” rating in a research note on Tuesday, April 15th. The Goldman Sachs Group increased their price target on shares of CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Royal Bank of Canada lowered their target price on shares of CEMEX from $6.00 to $5.00 and set an “underperform” rating for the company in a research note on Monday, April 14th. Finally, StockNews.com downgraded CEMEX from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.40.

CEMEX Price Performance

The stock’s 50 day moving average is $5.82 and its two-hundred day moving average is $5.78. The stock has a market capitalization of $8.99 billion, a PE ratio of 9.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82.

CEMEX (NYSE:CX) last announced its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. On average, equities analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

CEMEX Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were issued a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX’s dividend payout ratio (DPR) is currently 12.70%.

Institutional Investors Weigh In On CEMEX

Institutional investors and hedge funds have recently made changes to their positions in the stock. Westfuller Advisors LLC purchased a new stake in shares of CEMEX in the 1st quarter valued at $62,000. Robeco Institutional Asset Management B.V. lifted its position in shares of CEMEX by 2.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 6,394,205 shares of the construction company’s stock worth $35,871,000 after purchasing an additional 136,923 shares in the last quarter. Archford Capital Strategies LLC purchased a new position in shares of CEMEX in the first quarter valued at approximately $124,000. Harbour Capital Advisors LLC purchased a new stake in CEMEX during the 1st quarter worth approximately $687,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in CEMEX by 21.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company’s stock worth $81,000 after buying an additional 2,505 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.