Cemex S.A.B. de C.V. (NYSE:CX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.0667.

Several research firms recently issued reports on CX. Wall Street Zen lowered shares of Cemex from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Scotiabank lifted their target price on shares of Cemex from $14.10 to $14.50 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a report on Friday, August 21st. Royal Bank Of Canada increased their price objective on shares of Cemex from $12.75 to $13.50 and gave the company a “sector perform” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th.

Insider Activity

In other news, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $10.68, for a total value of $2,271,422.40. Following the completion of the sale, the vice president owned 289,490 shares in the company, valued at approximately $3,091,753.20. This trade represents a 42.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Cemex

Several institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Cemex during the second quarter valued at approximately $683,000. Charles Schwab Trust Co bought a new stake in shares of Cemex during the 2nd quarter worth approximately $132,000. Contravisory Investment Management Inc. purchased a new position in Cemex during the 2nd quarter valued at $277,000. Dynamic Advisor Solutions LLC boosted its holdings in Cemex by 17.5% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 42,732 shares of the construction company’s stock valued at $513,000 after acquiring an additional 6,368 shares during the period. Finally, Parallel Advisors LLC grew its position in Cemex by 15.7% in the 1st quarter. Parallel Advisors LLC now owns 20,119 shares of the construction company’s stock valued at $230,000 after acquiring an additional 2,729 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Cemex Stock Performance

CX stock opened at $10.96 on Friday. The stock’s fifty day moving average price is $11.93 and its 200-day moving average price is $12.04. The company has a market cap of $15.88 billion, a P/E ratio of 32.24 and a beta of 1.53. Cemex has a 1 year low of $8.73 and a 1 year high of $13.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68.

Cemex (NYSE:CX) last issued its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. The business had revenue of $4.59 billion for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. On average, equities analysts forecast that Cemex will post 0.91 earnings per share for the current year.

Cemex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were given a dividend of $0.0312 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, June 17th. Cemex’s dividend payout ratio (DPR) is presently 35.29%.

About Cemex

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.