Cemex (NYSE:CX) Reaches New 1-Year High – What’s Next?

Cemex S.A.B. de C.V. (NYSE:CX)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $10.47 and last traded at $10.4650, with a volume of 637009 shares trading hands. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

CX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Cemex from a “neutral” rating to an “overweight” rating and raised their target price for the company from $8.10 to $10.50 in a research note on Tuesday, August 26th. Barclays increased their target price on Cemex from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group upped their price target on Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Finally, Bank of America upgraded shares of Cemex from a “neutral” rating to a “buy” rating and raised their price target for the stock from $10.00 to $10.80 in a research report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cemex currently has an average rating of “Hold” and an average price target of $10.14.

Cemex Stock Up 1.2%

The firm has a market cap of $15.18 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.17 and a beta of 1.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.91. The business’s 50-day moving average is $9.46 and its 200-day moving average is $8.15.

Cemex (NYSE:CX) last issued its earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.15. Cemex had a net margin of 8.62% and a return on equity of 6.85%. The company had revenue of $230.56 million for the quarter, compared to analyst estimates of $226.73 million. On average, equities analysts predict that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 17th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.09 dividend on an annualized basis and a yield of 0.9%. Cemex’s dividend payout ratio is 9.68%.

Institutional Investors Weigh In On Cemex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CX. Cambridge Investment Research Advisors Inc. grew its stake in Cemex by 137.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,252 shares of the construction company’s stock valued at $175,000 after purchasing an additional 18,114 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Cemex by 7.8% during the first quarter. Envestnet Asset Management Inc. now owns 772,764 shares of the construction company’s stock worth $4,335,000 after acquiring an additional 55,964 shares in the last quarter. Allworth Financial LP lifted its stake in Cemex by 7.4% in the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company’s stock valued at $157,000 after acquiring an additional 1,906 shares during the last quarter. Signaturefd LLC grew its position in shares of Cemex by 21.2% in the 1st quarter. Signaturefd LLC now owns 42,625 shares of the construction company’s stock valued at $239,000 after acquiring an additional 7,466 shares during the period. Finally, South Dakota Investment Council increased its stake in shares of Cemex by 4.5% during the 1st quarter. South Dakota Investment Council now owns 978,919 shares of the construction company’s stock worth $5,492,000 after purchasing an additional 42,600 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.