CEMEX (NYSE:CX) Announces Earnings Results, Beats Expectations By $0.06 EPS

CEMEX (NYSE:CX) announced its quarterly earnings results on Thursday. The construction company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06, Zacks reports. CEMEX had a net margin of 2.67% and a return on equity of 2.28%.

CEMEX Stock Up 13.3 %

NYSE:CX traded up $0.79 on Thursday, hitting $6.77. The stock had a trading volume of 25,555,433 shares, compared to its average volume of 10,648,268. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98. The stock has a market cap of $9.82 billion, a P/E ratio of 22.58 and a beta of 1.49. CEMEX has a 1 year low of $5.00 and a 1 year high of $9.27. The firm’s fifty day simple moving average is $5.68 and its two-hundred day simple moving average is $5.88.

CEMEX Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were given a $0.0207 dividend. The ex-dividend date was Tuesday, December 10th. CEMEX’s payout ratio is currently 20.00%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Barclays dropped their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $6.00 in a report on Tuesday, October 29th. Scotiabank lowered their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada cut shares of CEMEX from a “sector perform” rating to an “underperform” rating and decreased their price objective for the company from $6.00 to $5.00 in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.65.

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.