CEMEX (NYSE:CX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

CEMEX (NYSE:CX) had its target price lifted by Royal Bank of Canada from $5.00 to $6.00 in a report issued on Monday,Benzinga reports. They currently have an underperform rating on the construction company’s stock.

Other analysts have also recently issued reports about the company. Barclays dropped their target price on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. Finally, Scotiabank dropped their target price on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, CEMEX presently has a consensus rating of “Hold” and an average target price of $7.82.

CEMEX Stock Down 0.5 %

Shares of CX opened at $6.59 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98. CEMEX has a one year low of $5.00 and a one year high of $9.27. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 10.46 and a beta of 1.49. The stock has a 50 day moving average price of $5.78 and a 200 day moving average price of $5.89.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.82% and a net margin of 5.70%. Equities research analysts forecast that CEMEX will post 0.76 earnings per share for the current fiscal year.

CEMEX Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were paid a $0.0207 dividend. The ex-dividend date was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is presently 9.52%.

Hedge Funds Weigh In On CEMEX

Several large investors have recently modified their holdings of the business. Allworth Financial LP lifted its stake in shares of CEMEX by 36.0% in the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,747 shares during the last quarter. Barclays PLC lifted its stake in shares of CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its stake in shares of CEMEX by 3.6% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 75,949 shares of the construction company’s stock valued at $463,000 after purchasing an additional 2,654 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of CEMEX by 26.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company’s stock valued at $73,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Holistic Financial Partners lifted its stake in shares of CEMEX by 25.0% in the 4th quarter. Holistic Financial Partners now owns 13,933 shares of the construction company’s stock valued at $79,000 after purchasing an additional 2,787 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.