Cemex (NYSE:CX) Hits New 12-Month High – Should You Buy?

Cemex S.A.B. de C.V. (NYSE:CX) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $12.50 and last traded at $12.4350, with a volume of 475679 shares trading hands. The stock had previously closed at $12.42.

Wall Street Analyst Weigh In

Several research analysts recently commented on CX shares. Barclays raised their price target on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Citigroup lowered shares of Cemex from a “buy” rating to a “neutral” rating and raised their target price for the stock from $9.00 to $10.00 in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Royal Bank Of Canada raised their price objective on Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.14.

Cemex Stock Up 0.6%

The business has a 50 day moving average of $11.00 and a two-hundred day moving average of $9.51. The stock has a market capitalization of $18.11 billion, a PE ratio of 13.44, a PEG ratio of 1.57 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.91.

Cemex (NYSE:CX) last announced its earnings results on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $226.73 million. Cemex had a net margin of 8.62% and a return on equity of 6.85%. Analysts predict that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. Cemex’s dividend payout ratio is presently 9.68%.

Institutional Trading of Cemex

Several hedge funds and other institutional investors have recently made changes to their positions in CX. SG Americas Securities LLC purchased a new position in Cemex during the 4th quarter worth $325,000. Dynamic Advisor Solutions LLC acquired a new stake in Cemex in the fourth quarter worth about $255,000. Tuttle Capital Management LLC purchased a new stake in shares of Cemex during the fourth quarter worth about $146,000. Park Avenue Securities LLC acquired a new position in shares of Cemex during the fourth quarter valued at about $152,000. Finally, JPMorgan Chase & Co. raised its position in shares of Cemex by 84.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,529,612 shares of the construction company’s stock valued at $40,721,000 after purchasing an additional 2,080,341 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.