CEMEX (NYSE:CX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

CEMEX (NYSE:CX) had its price target raised by Royal Bank of Canada from $5.00 to $5.25 in a report issued on Tuesday morning,Benzinga reports. They currently have an underperform rating on the construction company’s stock.

Several other equities analysts have also recently commented on the company. Bradesco Corretora set a $7.50 price target on CEMEX and gave the company a “neutral” rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. upped their target price on CEMEX from $6.00 to $6.80 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. The Goldman Sachs Group increased their price objective on shares of CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, StockNews.com lowered shares of CEMEX from a “buy” rating to a “hold” rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, CEMEX presently has an average rating of “Hold” and a consensus target price of $7.58.

CEMEX Trading Down 0.8 %

Shares of CX stock opened at $6.12 on Tuesday. The firm has a market capitalization of $8.87 billion, a P/E ratio of 9.71 and a beta of 1.28. CEMEX has a 1 year low of $4.89 and a 1 year high of $8.11. The firm’s fifty day simple moving average is $5.78 and its 200 day simple moving average is $5.78. 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 (NYSE:CX) last posted its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. The company had revenue of $186.46 million for the quarter, compared to the consensus estimate of $214.59 million. As a group, sell-side analysts predict that CEMEX will post 0.69 EPS for the current year.

CEMEX Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were given a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX’s dividend payout ratio (DPR) is presently 12.70%.

Institutional Trading of CEMEX

Hedge funds have recently modified their holdings of the company. Genus Capital Management Inc. grew its position in CEMEX by 200.0% during the 1st quarter. Genus Capital Management Inc. now owns 21,412 shares of the construction company’s stock worth $120,000 after acquiring an additional 42,824 shares during the last quarter. Allworth Financial LP grew its holdings in shares of CEMEX by 7.4% during the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company’s stock worth $157,000 after purchasing an additional 1,906 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of CEMEX by 7.8% in the first quarter. Envestnet Asset Management Inc. now owns 772,764 shares of the construction company’s stock valued at $4,335,000 after buying an additional 55,964 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of CEMEX in the first quarter valued at about $29,000. Finally, Westfuller Advisors LLC acquired a new position in CEMEX during the 1st quarter worth about $62,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.