Cemex S.A.B. de C.V. (CX) to Issue Quarterly Dividend of $0.03 on June 29th

Cemex S.A.B. de C.V. (NYSE:CX) announced a quarterly dividend on Friday, June 5th. Investors of record on Wednesday, June 17th will be paid a dividend of 0.0312 per share by the construction company on Monday, June 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, June 17th. This is a 38.5% increase from Cemex’s previous quarterly dividend of $0.02.

Cemex has a payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cemex to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 12.1%.

Cemex Trading Down 0.2%

Shares of NYSE CX opened at $12.96 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. The stock has a market capitalization of $18.77 billion, a P/E ratio of 40.49 and a beta of 1.51. Cemex has a 1-year low of $6.63 and a 1-year high of $13.67. The business has a fifty day moving average price of $12.43 and a 200 day moving average price of $11.98.

Cemex (NYSE:CX) last issued its quarterly earnings data on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a return on equity of 3.64% and a net margin of 2.74%. Equities research analysts expect that Cemex will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CX shares. Weiss Ratings restated a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Scotiabank upped their target price on Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a research report on Friday, April 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $12.75 target price on shares of Cemex in a research report on Friday, April 24th. Barclays reaffirmed an “overweight” rating on shares of Cemex in a research report on Thursday, March 12th. Finally, Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cemex presently has an average rating of “Moderate Buy” and an average price target of $12.77.

Cemex Company Profile

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.