Cemex (NYSE:CX) Stock Price Expected to Rise, Barclays Analyst Says

Cemex (NYSE:CX) had its price target increased by Barclays from $9.00 to $10.00 in a research report report published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the construction company’s stock.

Other analysts have also issued reports about the company. Royal Bank Of Canada boosted their price objective on Cemex from $5.00 to $5.25 and gave the company an “underperform” rating in a report on Tuesday, April 29th. Bradesco Corretora set a $7.50 price objective on Cemex and gave the company a “neutral” rating in a report on Tuesday, April 15th. Wall Street Zen lowered Cemex from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Itau BBA Securities cut shares of Cemex from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Cemex from $6.00 to $6.80 and gave the stock a “neutral” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.91.

Cemex Stock Up 2.7%

Shares of Cemex stock opened at $8.63 on Tuesday. The business has a 50-day moving average of $7.20 and a 200-day moving average of $6.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61. The company has a market capitalization of $12.51 billion, a PE ratio of 8.46, a P/E/G ratio of 0.90 and a beta of 1.38. Cemex has a 1-year low of $4.89 and a 1-year high of $8.70.

Cemex (NYSE:CX) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. As a group, equities analysts forecast that Cemex will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were issued a $0.0224 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.09 dividend on an annualized basis and a yield of 1.04%. Cemex’s dividend payout ratio is currently 7.84%.

Hedge Funds Weigh In On Cemex

Several hedge funds and other institutional investors have recently made changes to their positions in CX. Wayfinding Financial LLC acquired a new position in shares of Cemex during the first quarter worth approximately $29,000. Farther Finance Advisors LLC raised its holdings in Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after purchasing an additional 2,027 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Cemex by 334.7% during the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after purchasing an additional 7,075 shares in the last quarter. Barclays PLC raised its holdings in Cemex by 56.2% during the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company’s stock worth $55,000 after purchasing an additional 3,510 shares in the last quarter. Finally, Townsquare Capital LLC bought a new stake in Cemex during the fourth quarter worth approximately $57,000. 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.