Cemex S.A.B. de C.V. (NYSE:CX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “

A number of other analysts have also commented on the company. Berenberg Bank reaffirmed a “hold” rating and issued a $8.40 price target on shares of Cemex S.A.B. de C.V. in a research note on Thursday, July 27th. Citigroup Inc. downgraded shares of Cemex S.A.B. de C.V. from a “neutral” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research report on Monday, July 17th. Bank of America Corporation raised shares of Cemex S.A.B. de C.V. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $10.10 to $10.60 in a research report on Tuesday, June 20th. BidaskClub lowered shares of Cemex S.A.B. de C.V. from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, ValuEngine lowered shares of Cemex S.A.B. de C.V. from a “buy” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $10.63.

Shares of Cemex S.A.B. de C.V. (NYSE:CX) traded down 0.44% during mid-day trading on Wednesday, reaching $9.03. The company had a trading volume of 6,128,046 shares. The company has a market capitalization of $135.44 billion, a P/E ratio of 117.27 and a beta of 1.31. The firm has a 50-day moving average of $9.17 and a 200-day moving average of $9.10. Cemex S.A.B. de C.V. has a 12-month low of $6.91 and a 12-month high of $10.37.

Cemex S.A.B. de C.V. (NYSE:CX) last posted its earnings results on Wednesday, July 26th. The construction company reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Cemex S.A.B. de C.V. had a return on equity of 8.94% and a net margin of 8.34%. The firm had revenue of $3.58 billion for the quarter. On average, equities analysts anticipate that Cemex S.A.B. de C.V. will post $0.56 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Cemex S.A.B. de C.V. (CX) Rating Lowered to Sell at Zacks Investment Research” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/04/cemex-s-a-b-de-c-v-cx-rating-lowered-to-sell-at-zacks-investment-research.html.

Large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new position in shares of Cemex S.A.B. de C.V. in the 1st quarter worth about $562,000. UBS Asset Management Americas Inc. lifted its position in Cemex S.A.B. de C.V. by 2.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,551,719 shares of the construction company’s stock valued at $14,074,000 after acquiring an additional 40,969 shares during the period. Keybank National Association OH purchased a new position in Cemex S.A.B. de C.V. during the 1st quarter valued at about $230,000. FMR LLC lifted its position in Cemex S.A.B. de C.V. by 5.7% during the 1st quarter. FMR LLC now owns 17,774,999 shares of the construction company’s stock valued at $161,219,000 after acquiring an additional 952,273 shares during the period. Finally, FIL Ltd lifted its position in Cemex S.A.B. de C.V. by 2.3% during the 1st quarter. FIL Ltd now owns 619,491 shares of the construction company’s stock valued at $5,619,000 after acquiring an additional 13,761 shares during the period. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

About Cemex S.A.B. de C.V.

CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in over 50 countries throughout the world.

Get a free copy of the Zacks research report on Cemex S.A.B. de C.V. (CX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cemex S.A.B. de C.V. (NYSE:CX)

Receive News & Ratings for Cemex S.A.B. de C.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemex S.A.B. de C.V. and related companies with MarketBeat.com's FREE daily email newsletter.