Cemex (NYSE:CX) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Cemex (NYSE:CX) from a buy rating to a hold rating in a research note published on Saturday.

Several other equities research analysts have also weighed in on CX. Weiss Ratings restated a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. Santander raised shares of Cemex to an “outperform” rating in a research report on Thursday, June 11th. Scotiabank boosted their price objective on shares of Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada upped their price objective on shares of Cemex from $12.75 to $13.50 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Finally, Barclays raised their target price on shares of Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.07.

Cemex Trading Up 0.8%

Cemex stock opened at $11.38 on Friday. Cemex has a one year low of $8.44 and a one year high of $13.67. The company’s fifty day moving average price is $12.36 and its two-hundred day moving average price is $12.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68. The company has a market capitalization of $16.49 billion, a price-to-earnings ratio of 33.49 and a beta of 1.53.

Cemex (NYSE:CX) last released its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $4.59 billion during the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. On average, analysts forecast that Cemex will post 0.91 earnings per share for the current fiscal year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were given a $0.0312 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.12 annualized dividend and a yield of 1.1%. This is an increase from Cemex’s previous quarterly dividend of $0.02. Cemex’s dividend payout ratio (DPR) is presently 35.29%.

Institutional Investors Weigh In On Cemex

Several hedge funds have recently modified their holdings of the business. WealthCollab LLC increased its position in Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after acquiring an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after purchasing an additional 3,093 shares during the period. NFSG Corp boosted its holdings in Cemex by 123.5% in the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,579 shares during the period. Kestra Advisory Services LLC acquired a new stake in Cemex in the 4th quarter worth $34,000. Finally, Militia Capital Partners LP acquired a new stake in Cemex in the 2nd quarter worth $46,000. 82.97% of the stock is owned by institutional investors.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.