Cemex (NYSE:CX) Upgraded by Bank of America to Buy Rating

Bank of America upgraded shares of Cemex (NYSE:CX) from a neutral rating to a buy rating in a research report released on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $10.80 target price on the construction company’s stock, up from their prior target price of $10.00.

A number of other research analysts have also commented on CX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a report on Wednesday, October 8th. Barclays increased their target price on Cemex from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. raised Cemex from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $8.10 to $10.50 in a report on Tuesday, August 26th. Wall Street Zen lowered Cemex from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Scotiabank reissued an “outperform” rating on shares of Cemex in a report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.24.

Cemex Stock Performance

Shares of NYSE CX opened at $9.85 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61. The stock’s fifty day moving average price is $9.07 and its two-hundred day moving average price is $7.54. Cemex has a one year low of $4.89 and a one year high of $9.97. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 1.54 and a beta of 1.51.

Cemex (NYSE:CX) last issued its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.20 billion. On average, equities analysts forecast that Cemex will post 0.69 EPS for the current year.

Cemex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were paid a $0.0224 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.09 annualized dividend and a yield of 0.9%. Cemex’s dividend payout ratio (DPR) is 8.82%.

Institutional Trading of Cemex

Large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its stake in Cemex by 137.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,252 shares of the construction company’s stock valued at $175,000 after buying an additional 18,114 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Cemex by 21.0% in the first quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company’s stock valued at $81,000 after purchasing an additional 2,505 shares during the last quarter. Northern Trust Corp raised its position in Cemex by 4.6% in the first quarter. Northern Trust Corp now owns 1,785,660 shares of the construction company’s stock valued at $10,018,000 after purchasing an additional 77,898 shares during the last quarter. American Century Companies Inc. raised its position in Cemex by 2.9% in the first quarter. American Century Companies Inc. now owns 3,645,959 shares of the construction company’s stock valued at $20,454,000 after purchasing an additional 104,172 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Cemex by 11.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 71,452 shares of the construction company’s stock valued at $401,000 after purchasing an additional 7,119 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.