Brokerages Set Cemex S.A.B. de C.V. (NYSE:CX) PT at $13.07

Cemex S.A.B. de C.V. (NYSE:CX) has received a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $13.0667.

CX has been the subject of several recent research reports. Santander upgraded shares of Cemex to an “outperform” rating in a research note on Thursday, June 11th. Barclays upped their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Royal Bank Of Canada lifted their price objective on shares of Cemex from $12.75 to $13.50 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Finally, Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd.

Cemex Trading Up 0.3%

Shares of CX opened at $11.86 on Tuesday. The business has a 50-day moving average of $12.49 and a 200 day moving average of $12.22. Cemex has a fifty-two week low of $8.17 and a fifty-two week high of $13.67. The firm has a market cap of $17.18 billion, a P/E ratio of 34.87 and a beta of 1.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92.

Cemex (NYSE:CX) last announced its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $4.59 billion for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. As a group, research analysts forecast that Cemex will post 0.87 EPS for the current year.

Cemex Increases Dividend

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

Institutional Investors Weigh In On Cemex

A number of institutional investors and hedge funds have recently modified their holdings of the company. NFSG Corp grew its stake in Cemex by 123.5% during the first quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,579 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Cemex in the 4th quarter worth approximately $34,000. WealthCollab LLC boosted its holdings in Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after purchasing 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. Finally, Militia Capital Partners LP purchased a new position in shares of Cemex during the 2nd quarter valued at $46,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

About Cemex

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.