CEMEX, S.A.B. de C.V. (NYSE:CX) Announces $0.02 Quarterly Dividend

CEMEX, S.A.B. de C.V. (NYSE:CX) declared a quarterly dividend on Tuesday, June 10th, Wall Street Journal reports. Stockholders of record on Tuesday, June 17th will be paid a dividend of 0.0224 per share by the construction company on Thursday, June 26th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Tuesday, June 17th.

CEMEX Trading Up 0.8%

NYSE:CX opened at $6.97 on Thursday. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 11.06 and a beta of 1.40. CEMEX has a 52 week low of $4.89 and a 52 week high of $7.34. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $6.24 and a 200 day moving average of $6.02.

CEMEX (NYSE:CX) last issued its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 EPS for the quarter. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. The firm had revenue of $186.46 million during the quarter, compared to analyst estimates of $214.59 million. As a group, sell-side analysts anticipate that CEMEX will post 0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CEMEX

A hedge fund recently raised its stake in CEMEX stock. Jones Financial Companies Lllp boosted its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 334.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,189 shares of the construction company’s stock after purchasing an additional 7,075 shares during the quarter. Jones Financial Companies Lllp’s holdings in CEMEX were worth $52,000 as of its most recent SEC filing. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of CEMEX from a “hold” rating to a “buy” rating in a report on Saturday, May 3rd. Morgan Stanley lowered shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. Itau BBA Securities downgraded shares of CEMEX from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 3rd. Royal Bank of Canada increased their price target on CEMEX from $5.00 to $5.25 and gave the stock an “underperform” rating in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on CEMEX from $6.00 to $6.80 and gave the company a “neutral” rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.58.

About CEMEX

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.