Cemex SAB de CV Given Overweight Rating at JPMorgan Chase & Co. (CX)
Cemex SAB de CV (NYSE:CX)‘s stock had its “overweight” rating restated by analysts at JPMorgan Chase & Co. in a report issued on Friday. They currently have a $15.50 price target on the stock, up from their previous price target of $14.00. JPMorgan Chase & Co.’s price target points to a potential upside of 17.42% from the stock’s previous close.
Shares of Cemex SAB de CV (NYSE:CX) traded down 0.11% during mid-day trading on Friday, hitting $13.185. 1,380,063 shares of the company’s stock traded hands. Cemex SAB de CV has a 52 week low of $9.4327 and a 52 week high of $13.8173. The stock has a 50-day moving average of $12. and a 200-day moving average of $12.28. The company’s market cap is $16.208 billion. Cemex SAB de CV also saw a large decrease in short interest in the month of June. As of June 13th, there was short interest totalling 89,527,452 shares, a decrease of 4.0% from the May 30th total of 93,284,326 shares. Based on an average daily trading volume, of 9,584,575 shares, the short-interest ratio is presently 9.3 days. Currently, 7.4% of the company’s shares are short sold.
Cemex SAB de CV (NYSE:CX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.17) by $0.07. The company had revenue of $3.59 million for the quarter, compared to the consensus estimate of $3.46 billion. On average, analysts predict that Cemex SAB de CV will post $-0.19 earnings per share for the current fiscal year.
Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Cemex SAB de CV in a research note on Thursday, June 19th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $14.50.
CEMEX SAB de CV (NYSE:CX) is a Mexico-based company principally engaged, through its subsidiaries, in the cement manufacturing.
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