StockNews.com Upgrades CEMEX (NYSE:CX) to Buy

CEMEX (NYSE:CX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

A number of other research firms also recently weighed in on CX. Royal Bank of Canada decreased their price target on CEMEX from $6.00 to $5.00 and set an “underperform” rating for the company in a research note on Monday. Bradesco Corretora set a $7.50 price target on shares of CEMEX and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group upped their target price on shares of CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, CEMEX presently has a consensus rating of “Hold” and a consensus target price of $7.63.

CEMEX Stock Performance

CEMEX stock opened at $5.41 on Wednesday. The company has a market cap of $7.83 billion, a PE ratio of 8.58 and a beta of 1.28. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. CEMEX has a 1 year low of $4.89 and a 1 year high of $8.35. The company’s 50-day moving average is $5.97 and its two-hundred day moving average is $5.80.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. Equities analysts anticipate that CEMEX will post 0.69 earnings per share for the current year.

Institutional Investors Weigh In On CEMEX

Several hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp lifted its holdings in CEMEX by 30.4% during the 3rd quarter. Stifel Financial Corp now owns 100,406 shares of the construction company’s stock worth $612,000 after purchasing an additional 23,388 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in CEMEX by 39.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,087 shares of the construction company’s stock worth $92,000 after buying an additional 4,306 shares during the period. MML Investors Services LLC lifted its holdings in shares of CEMEX by 65.8% during the third quarter. MML Investors Services LLC now owns 20,706 shares of the construction company’s stock worth $126,000 after buying an additional 8,221 shares in the last quarter. Barclays PLC boosted its position in shares of CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after acquiring an additional 1,843 shares during the period. Finally, Sanctuary Advisors LLC increased its position in CEMEX by 46.5% during the third quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company’s stock worth $319,000 after acquiring an additional 16,585 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.