JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cemex (NYSE:CX) Stock

Cemex (NYSE:CX) had its target price increased by research analysts at JPMorgan Chase & Co. from $14.00 to $14.50 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 15.03% from the stock’s current price.

Several other research analysts also recently commented on CX. Morgan Stanley raised Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective on the stock in a research note on Monday, March 23rd. Barclays reissued an “overweight” rating on shares of Cemex in a report on Thursday, March 12th. Scotiabank raised their target price on shares of Cemex from $13.90 to $14.10 and gave the stock an “outperform” rating in a research note on Friday, April 10th. Zacks Research downgraded shares of Cemex from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Cemex in a research report on Friday. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Cemex currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.27.

Cemex Stock Performance

CX stock traded up $0.10 during trading on Friday, reaching $12.61. The stock had a trading volume of 1,316,110 shares, compared to its average volume of 6,794,715. The stock’s 50 day moving average is $11.56 and its two-hundred day moving average is $11.26. The firm has a market cap of $18.26 billion, a PE ratio of 19.07 and a beta of 1.60. Cemex has a 52 week low of $5.57 and a 52 week high of $13.35. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.39.

Cemex (NYSE:CX) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. Cemex had a net margin of 5.93% and a return on equity of 2.85%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.86 billion. As a group, equities analysts anticipate that Cemex will post 0.85 earnings per share for the current year.

Institutional Trading of Cemex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in Cemex by 334.7% in the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after purchasing an additional 7,075 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Cemex by 58.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock valued at $40,320,000 after buying an additional 2,661,030 shares in the last quarter. Cetera Investment Advisers grew its holdings in Cemex by 53.2% during the 2nd quarter. Cetera Investment Advisers now owns 57,269 shares of the construction company’s stock valued at $397,000 after buying an additional 19,878 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Cemex by 57.1% during the second quarter. Invesco Ltd. now owns 50,480 shares of the construction company’s stock valued at $350,000 after buying an additional 18,348 shares during the last quarter. 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.