Cemex SAB de CV (CX) Posts Quarterly Earnings, Beats Estimates By $0.05 EPS
Cemex SAB de CV (NYSE:CX) posted its quarterly earnings results on Friday. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $0.05, AR Network reports. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.29 billion.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cemex SAB de CV in a research note on Friday, June 27th. They now have a $15.50 price target on the stock, up previously from $14.00. Analysts at Jefferies Group reiterated a “hold” rating on shares of Cemex SAB de CV in a research note on Thursday, June 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $14.50.
Cemex SAB de CV (NYSE:CX) opened at 12.89 on Friday. Cemex SAB de CV has a one year low of $9.4327 and a one year high of $13.8173. The stock has a 50-day moving average of $13.19 and a 200-day moving average of $12.. The company’s market cap is $15.846 billion. Cemex SAB de CV also was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 93,679,452 shares, an increase of 4.6% from the June 13th total of 89,527,452 shares. Based on an average daily volume of 9,035,808 shares, the short-interest ratio is currently 10.4 days. Approximately 7.7% of the shares of the company are short sold.
CEMEX SAB de CV (NYSE:CX) is a Mexico-based company principally engaged, through its subsidiaries, in the cement manufacturing.
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