Cemex (NYSE:CX – Free Report) had its price target trimmed by Scotiabank from $14.50 to $13.80 in a research report report published on Tuesday, Marketbeat reports. The brokerage currently has a sector outperform rating on the construction company’s stock.
Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Cemex from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a report on Friday, August 21st. Royal Bank Of Canada lifted their price objective on shares of Cemex from $13.25 to $13.75 and gave the stock a “sector perform” rating in a research note on Tuesday. Barclays lifted their price objective on shares of Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.92.
Check Out Our Latest Analysis on Cemex
Cemex Trading Up 3.1%
Cemex stock opened at $10.85 on Tuesday. The stock has a 50-day moving average of $10.24 and a two-hundred day moving average of $11.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.95. Cemex has a one year low of $9.30 and a one year high of $13.67. The stock has a market cap of $15.71 billion, a PE ratio of 24.65 and a beta of 1.51.
Cemex (NYSE:CX – Get Free Report) last issued its quarterly earnings results on Monday, October 26th. The construction company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Cemex had a return on equity of 5.18% and a net margin of 3.60%. The business had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.47 billion. On average, research analysts anticipate that Cemex will post 0.87 EPS for the current fiscal year.
Cemex Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.0312 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a yield of 1.1%. Cemex’s dividend payout ratio is currently 27.27%.
Insider Buying and Selling at Cemex
In other Cemex news, Director Zambrano Lozano acquired 400,800 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was acquired at an average cost of $17.28 per share, for a total transaction of $6,925,824.00. Following the completion of the transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at $172,800,000. This represents a 4.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mauricio Doehner sold 927,900 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $9.57, for a total value of $8,880,003.00. Following the completion of the sale, the executive vice president owned 584,930 shares of the company’s stock, valued at $5,597,780.10. This trade represents a 61.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Cemex
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. boosted its stake in shares of Cemex by 10.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 21,224,097 shares of the construction company’s stock worth $201,841,000 after acquiring an additional 1,951,012 shares during the last quarter. Sei Investments Co. increased its position in shares of Cemex by 7.4% during the first quarter. Sei Investments Co. now owns 4,150,537 shares of the construction company’s stock worth $47,482,000 after purchasing an additional 287,350 shares in the last quarter. Lazard Asset Management LLC raised its stake in Cemex by 14.4% in the 1st quarter. Lazard Asset Management LLC now owns 4,046,527 shares of the construction company’s stock valued at $46,292,000 after purchasing an additional 508,016 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Cemex by 1,747.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,646,000 shares of the construction company’s stock valued at $41,710,000 after purchasing an additional 3,448,600 shares during the last quarter. Finally, Amundi raised its stake in Cemex by 9.3% in the 1st quarter. Amundi now owns 3,115,879 shares of the construction company’s stock valued at $35,646,000 after purchasing an additional 264,248 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.
Cemex Company Profile
Cemex, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces and markets cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.
Cemex also provides construction solutions and services, including materials distribution, logistics and digital tools designed to support contractors, builders and other customers. Its products serve a broad range of applications, from housing and commercial development to roads, bridges, airports and other major infrastructure.
Founded in Mexico in 1906, Cemex has expanded through organic growth and acquisitions into an international business serving customers across the Americas, Europe, Africa, the Middle East and Asia.
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