Cemex S.A.B. de C.V. (NYSE:CX) Receives $13.07 Average PT from Brokerages

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $13.0667.

A number of equities analysts have recently commented on the stock. Santander upgraded shares of Cemex to an “outperform” rating in a report on Thursday, June 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. JPMorgan Chase & Co. raised their target price on Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Barclays lifted their target price on Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada upped their price target on Cemex from $12.75 to $13.50 and gave the company a “sector perform” rating in a research report on Friday, July 24th.

Cemex Stock Down 0.9%

Shares of NYSE CX opened at $11.01 on Friday. The company has a 50 day simple moving average of $12.00 and a 200 day simple moving average of $12.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68. Cemex has a 1 year low of $8.73 and a 1 year high of $13.67. The firm has a market cap of $15.95 billion, a PE ratio of 32.39 and a beta of 1.53.

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

Cemex Increases Dividend

The business also recently disclosed 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 represents a $0.12 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, June 17th. Cemex’s dividend payout ratio is 35.29%.

Insider Activity at Cemex

In related news, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $10.68, for a total value of $2,271,422.40. Following the sale, the vice president directly owned 289,490 shares in the company, valued at $3,091,753.20. This represents a 42.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CX. Jones Financial Companies Lllp boosted its stake in shares of Cemex by 334.7% in the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock valued at $52,000 after purchasing an additional 7,075 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Cemex by 58.8% during the first quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock worth $40,320,000 after buying an additional 2,661,030 shares during the last quarter. Cetera Investment Advisers raised its stake in Cemex by 53.2% during the second quarter. Cetera Investment Advisers now owns 57,269 shares of the construction company’s stock worth $397,000 after buying an additional 19,878 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares during the period. Finally, Invesco Ltd. lifted its holdings in Cemex by 57.1% in the second quarter. Invesco Ltd. now owns 50,480 shares of the construction company’s stock valued at $350,000 after buying an additional 18,348 shares during the period. Institutional investors own 82.97% of the company’s stock.

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.