CEMEX SAB de CV (CX) Shares Up 2.9%
Shares of CEMEX SAB de CV (NYSE:CX) shot up 2.9% during mid-day trading on Tuesday . The stock traded as high as $8.17 and last traded at $8.11, with a volume of 9,337,730 shares trading hands. The stock had previously closed at $7.88.
Several brokerages recently issued reports on CX. Citigroup Inc. downgraded CEMEX SAB de CV from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 27th. Zacks Investment Research raised CEMEX SAB de CV from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a research note on Monday, July 11th. Scotiabank raised CEMEX SAB de CV from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, June 16th. TheStreet raised CEMEX SAB de CV from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Barclays PLC raised CEMEX SAB de CV from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $6.00 to $10.00 in a research note on Thursday, April 21st. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $8.36.
The firm has a market capitalization of $120.42 billion and a P/E ratio of 410.00. The stock’s 50-day moving average price is $6.83 and its 200-day moving average price is $6.30.
CEMEX SAB de CV (NYSE:CX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. On average, equities analysts expect that CEMEX SAB de CV will post $0.22 earnings per share for the current year.
CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in more than 50 countries throughout the world.
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