Cemex (NYSE:CX) Upgraded 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 Tuesday morning.

Other analysts have also issued reports about the company. Bank of America raised Cemex from a “neutral” rating to a “buy” rating and raised their price target for the stock from $10.00 to $10.80 in a research note on Wednesday, October 15th. Barclays raised their target price on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on shares of Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, 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. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.14.

Cemex Stock Performance

Shares of CX opened at $10.20 on Tuesday. Cemex has a 1 year low of $4.89 and a 1 year high of $10.45. The company’s 50 day simple moving average is $9.41 and its 200 day simple moving average is $8.05. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.17 and a beta of 1.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.91.

Cemex (NYSE:CX) last released its earnings results on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.01 by $0.15. The firm had revenue of $230.56 million during the quarter, compared to analysts’ expectations of $226.73 million. Cemex had a net margin of 8.62% and a return on equity of 6.85%. On average, sell-side analysts predict that Cemex will post 0.69 EPS for the current year.

Cemex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were given a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, September 17th. Cemex’s dividend payout ratio is 9.68%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CX. WealthCollab LLC boosted its position in shares of Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after buying an additional 1,580 shares during the period. Wayfinding Financial LLC acquired a new position in Cemex during the 1st quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after acquiring an additional 3,093 shares during the period. Farther Finance Advisors LLC grew its position in Cemex by 63.7% in the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after acquiring an additional 2,027 shares in the last quarter. Finally, Militia Capital Partners LP acquired a new stake in Cemex in the second quarter valued at approximately $46,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.