Cemex (NYSE:CX) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Cemex (NYSE:CX) from a hold rating to a buy rating in a research note released on Sunday.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a report on Wednesday, October 8th. Barclays lifted their price target on Cemex from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Scotiabank restated an “outperform” rating on shares of Cemex in a research report on Tuesday, September 2nd. The Goldman Sachs Group lifted their price target on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday. Finally, Citigroup lowered Cemex from a “buy” rating to a “neutral” rating and lifted their price target for the company from $9.00 to $10.00 in a research report on Monday, October 13th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cemex has an average rating of “Hold” and an average price target of $9.49.

Cemex Trading Down 0.4%

NYSE CX opened at $9.66 on Friday. Cemex has a fifty-two week low of $4.89 and a fifty-two week high of $9.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86. The stock has a 50 day simple moving average of $9.12 and a two-hundred day simple moving average of $7.62. The stock has a market cap of $14.00 billion, a P/E ratio of 9.47, a price-to-earnings-growth ratio of 1.39 and a beta of 1.51.

Cemex (NYSE:CX) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.20 billion. On average, analysts forecast that Cemex will post 0.69 earnings per share for the current year.

Cemex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were issued a $0.0224 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.09 annualized dividend and a dividend yield of 0.9%. Cemex’s payout ratio is presently 8.82%.

Institutional Trading of Cemex

Several hedge funds have recently bought and sold shares of the stock. Archford Capital Strategies LLC grew its holdings in Cemex by 14.2% during the third quarter. Archford Capital Strategies LLC now owns 23,063 shares of the construction company’s stock valued at $207,000 after purchasing an additional 2,860 shares during the period. Burns Matteson Capital Management LLC bought a new stake in Cemex during the third quarter valued at about $225,000. Blue Trust Inc. grew its holdings in Cemex by 28.1% during the third quarter. Blue Trust Inc. now owns 33,592 shares of the construction company’s stock valued at $302,000 after purchasing an additional 7,370 shares during the period. Farther Finance Advisors LLC grew its holdings in Cemex by 231.6% during the third quarter. Farther Finance Advisors LLC now owns 17,274 shares of the construction company’s stock valued at $155,000 after purchasing an additional 12,064 shares during the period. Finally, Intergy Private Wealth LLC grew its holdings in Cemex by 31.2% during the third quarter. Intergy Private Wealth LLC now owns 14,303 shares of the construction company’s stock valued at $129,000 after purchasing an additional 3,403 shares during the period. Institutional investors 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.