Cemex (NYSE:CX) Stock Rating Lowered by Wall Street Zen

Cemex (NYSE:CX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also issued reports on CX. Barclays boosted their price objective on Cemex from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. upgraded Cemex from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. Scotiabank restated an “outperform” rating on shares of Cemex in a research report on Tuesday, September 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Finally, Bank of America boosted their price objective on Cemex from $8.60 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cemex currently has an average rating of “Hold” and an average target price of $9.02.

Cemex Trading Up 0.3%

NYSE:CX opened at $9.15 on Friday. Cemex has a 12-month low of $4.89 and a 12-month high of $9.61. The firm has a market capitalization of $13.26 billion, a P/E ratio of 8.97, a P/E/G ratio of 1.48 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. The business has a 50 day simple moving average of $9.00 and a 200 day simple moving average of $7.48.

Cemex (NYSE:CX) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.20 billion. Equities research analysts predict that Cemex will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CX. WealthCollab LLC grew its holdings in Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after purchasing an additional 1,580 shares during the last quarter. Yousif Capital Management LLC grew its stake in Cemex by 7.3% in the 2nd quarter. Yousif Capital Management LLC now owns 25,159 shares of the construction company’s stock valued at $174,000 after buying an additional 1,710 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in Cemex by 2.4% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 79,800 shares of the construction company’s stock worth $553,000 after acquiring an additional 1,843 shares during the period. Allworth Financial LP lifted its position in Cemex by 7.4% during the 1st quarter. Allworth Financial LP now owns 27,651 shares of the construction company’s stock worth $157,000 after acquiring an additional 1,906 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after acquiring an additional 2,027 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Cemex Company Profile

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.