Cemex S.A.B. de C.V. (NYSE:CX) Stock Has Average Price Target of $13.04

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $13.94.

Several research firms have issued reports on CX. JPMorgan Chase & Co. boosted their price objective on Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a research note on Friday, August 21st. Barclays lifted their price objective on shares of Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Citigroup upgraded shares of Cemex from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $13.70 to $12.00 in a research report on Thursday. Finally, Wall Street Zen downgraded shares of Cemex from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th.

Cemex Stock Performance

Shares of NYSE CX opened at $10.26 on Friday. The stock’s fifty day simple moving average is $10.36 and its 200 day simple moving average is $11.64. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 30.16 and a beta of 1.51. The company has a quick ratio of 0.68, a current ratio of 0.92 and a debt-to-equity ratio of 0.44. Cemex has a 52-week low of $9.10 and a 52-week high of $13.67.

Cemex (NYSE:CX) last announced its earnings results on Tuesday, June 30th. The construction company reported $0.24 EPS for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. The business had revenue of $4.59 billion during the quarter. As a group, sell-side analysts forecast that Cemex will post 0.89 earnings per share for the current fiscal year.

Cemex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th were given a $0.0312 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Cemex’s dividend payout ratio (DPR) is 35.29%.

Insider Activity

In related news, EVP Mauricio Doehner sold 927,900 shares of the company’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $9.57, for a total transaction of $8,880,003.00. Following the transaction, the executive vice president directly owned 584,930 shares of the company’s stock, valued at approximately $5,597,780.10. The trade was a 61.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zambrano Lozano purchased 400,800 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The shares were acquired at an average cost of $17.28 per share, for a total transaction of $6,925,824.00. Following the completion of the transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at $172,800,000. This trade represents a 4.18% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cemex

Several institutional investors and hedge funds have recently bought and sold shares of CX. NFSG Corp increased its holdings in shares of 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. Charles Schwab Trust Co acquired a new stake in shares of Cemex during the second quarter worth approximately $132,000. V Square Quantitative Management LLC boosted its holdings in shares of Cemex by 12.2% during the first quarter. V Square Quantitative Management LLC now owns 14,003 shares of the construction company’s stock worth $160,000 after purchasing an additional 1,527 shares during the period. Sax Wealth Advisors LLC boosted its holdings in shares of Cemex by 20.7% during the third quarter. Sax Wealth Advisors LLC now owns 17,006 shares of the construction company’s stock worth $162,000 after purchasing an additional 2,915 shares during the period. Finally, Summa Corp. purchased a new position in Cemex during the first quarter valued at approximately $209,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About Cemex

CEMEX, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces, distributes and sells cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.

CEMEX also provides construction solutions and services, including concrete products, paving materials, building systems and digital tools designed to support construction professionals and customers. Its operations and commercial activities serve markets across Mexico, the United States, Europe, South and Central America, the Caribbean, Africa and the Middle East.

The company traces its origins to 1906, when Cementos Hidalgo began operations in Mexico.