Cemex S.A.B. de C.V. (NYSE:CX) Receives Consensus Rating of “Hold” from Analysts

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have been assigned a consensus recommendation of “Hold” from the ten research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $9.0214.

Several research analysts recently issued reports on the company. Barclays raised their target price on Cemex from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Bank of America lifted their target price on shares of Cemex from $8.60 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. upgraded shares of Cemex from a “neutral” rating to an “overweight” rating and upped their price target for the company from $8.10 to $10.50 in a report on Tuesday, August 26th. Scotiabank reiterated an “outperform” rating on shares of Cemex in a report on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research report on Saturday, September 27th.

Cemex Price Performance

Shares of CX stock opened at $9.06 on Wednesday. Cemex has a one year low of $4.89 and a one year high of $9.61. The stock’s fifty day simple moving average is $8.94 and its 200 day simple moving average is $7.37. The firm has a market cap of $13.12 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 1.46 and a beta of 1.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61.

Cemex (NYSE:CX) last issued its earnings results on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Cemex had a net margin of 9.61% and a return on equity of 6.89%. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.20 billion. On average, analysts expect that Cemex will post 0.69 earnings per share for the current fiscal year.

Cemex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. Cemex’s dividend payout ratio is presently 8.82%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dodge & Cox lifted its stake in Cemex by 35.1% in the second quarter. Dodge & Cox now owns 95,023,835 shares of the construction company’s stock worth $658,515,000 after acquiring an additional 24,703,035 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in Cemex by 7.7% during the 2nd quarter. Brandes Investment Partners LP now owns 32,648,163 shares of the construction company’s stock worth $226,252,000 after buying an additional 2,337,817 shares during the last quarter. Orbis Allan Gray Ltd increased its holdings in shares of Cemex by 90.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock worth $182,263,000 after acquiring an additional 12,469,417 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Cemex by 58.8% in the first quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock valued at $40,320,000 after acquiring an additional 2,661,030 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Cemex by 5.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 6,727,119 shares of the construction company’s stock worth $46,619,000 after purchasing an additional 332,914 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.