Brokerages Set CEMEX, S.A.B. de C.V. (NYSE:CX) Price Target at $9.37

Shares of CEMEX, S.A.B. de C.V. (NYSE:CX) have received an average rating of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $9.53.

Several brokerages have recently commented on CX. The Goldman Sachs Group upped their price objective on shares of CEMEX from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday. Bank of America downgraded shares of CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Wednesday. StockNews.com raised shares of CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Barclays downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective for the company. in a research note on Friday, February 9th.

Hedge Funds Weigh In On CEMEX

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV purchased a new stake in CEMEX in the fourth quarter worth about $26,000. CWM LLC grew its holdings in CEMEX by 75.0% in the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after purchasing an additional 1,506 shares during the period. Blue Trust Inc. grew its holdings in CEMEX by 65.0% in the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock worth $41,000 after purchasing an additional 2,062 shares during the period. PNC Financial Services Group Inc. grew its holdings in CEMEX by 40.6% in the third quarter. PNC Financial Services Group Inc. now owns 8,501 shares of the construction company’s stock worth $55,000 after purchasing an additional 2,454 shares during the period. Finally, MQS Management LLC purchased a new stake in CEMEX in the third quarter worth about $70,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Stock Performance

CEMEX stock opened at $8.27 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $11.98 billion, a PE ratio of 68.92, a P/E/G ratio of 0.16 and a beta of 1.47. The firm has a fifty day simple moving average of $8.31 and a two-hundred day simple moving average of $7.61. CEMEX has a twelve month low of $5.67 and a twelve month high of $9.27.

CEMEX (NYSE:CX) last posted its quarterly earnings results on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. The business had revenue of $4.24 billion during the quarter. CEMEX had a return on equity of 1.50% and a net margin of 1.06%. Research analysts expect that CEMEX will post 0.88 EPS for the current year.

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.