CEMEX (NYSE:CX) Shares Up 4.2% – Here’s Why

CEMEX, S.A.B. de C.V. (NYSE:CX) shares rose 4.2% during mid-day trading on Tuesday . The company traded as high as $6.30 and last traded at $6.32. Approximately 3,967,988 shares changed hands during trading, a decline of 59% from the average daily volume of 9,585,225 shares. The stock had previously closed at $6.06.

Analyst Ratings Changes

A number of analysts have recently commented on CX shares. The Goldman Sachs Group upped their price target on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Royal Bank of Canada upped their target price on shares of CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.82.

CEMEX Stock Up 3.8 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. The firm’s fifty day simple moving average is $6.12 and its 200 day simple moving average is $5.88. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 9.98 and a beta of 1.45.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. On average, sell-side analysts forecast that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current year.

CEMEX Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were issued a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX’s payout ratio is presently 12.70%.

Institutional Trading of CEMEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vise Technologies Inc. acquired a new position in shares of CEMEX during the 4th quarter worth about $220,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in CEMEX by 30.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,745,819 shares of the construction company’s stock worth $229,806,000 after buying an additional 9,541,622 shares during the last quarter. Waverly Advisors LLC bought a new stake in CEMEX in the fourth quarter valued at approximately $104,000. Squarepoint Ops LLC bought a new stake in CEMEX in the fourth quarter valued at approximately $175,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of CEMEX in the fourth quarter valued at approximately $59,000. 82.97% of the stock is owned by institutional investors.

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.