Cemex (NYSE:CX) Reaches New 52-Week High – Still a Buy?

Cemex S.A.B. de C.V. (NYSE:CX)’s share price hit a new 52-week high on Tuesday . The company traded as high as $12.03 and last traded at $11.9450, with a volume of 2934040 shares changing hands. The stock had previously closed at $11.84.

Analysts Set New Price Targets

Several research firms have issued reports on CX. Royal Bank Of Canada upped their price objective on Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. The Goldman Sachs Group boosted their target price on Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Scotiabank cut Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price target on the stock. in a report on Tuesday, October 21st. Bank of America raised Cemex from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $10.80 in a report on Wednesday, October 15th. Finally, Wall Street Zen upgraded shares of Cemex from a “hold” rating to a “buy” rating in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.14.

Cemex Stock Up 0.7%

The business has a fifty day moving average of $10.85 and a 200 day moving average of $9.36. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. The firm has a market cap of $17.28 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.46 and a beta of 1.59.

Cemex (NYSE:CX) last posted its earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.15. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $226.73 million. Cemex had a return on equity of 6.85% and a net margin of 8.62%. On average, equities research analysts predict that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were paid a $0.0224 dividend. This represents a $0.09 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, December 15th. Cemex’s dividend payout ratio is presently 9.68%.

Hedge Funds Weigh In On Cemex

Institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its stake in Cemex by 7.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,889 shares of the construction company’s stock worth $143,000 after buying an additional 1,070 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Cemex by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock worth $2,875,000 after acquiring an additional 1,221 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Cemex by 5.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 24,201 shares of the construction company’s stock worth $218,000 after purchasing an additional 1,268 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Cemex by 3.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock valued at $387,000 after purchasing an additional 1,389 shares during the period. Finally, WealthCollab LLC grew its position in shares of Cemex by 73.7% in the 2nd 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 period. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Cemex

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.