Cemex SAB de CV (CX) Downgraded by Zacks Investment Research

Cemex SAB de CV (NYSE:CX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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. “

Several other analysts have also recently weighed in on the stock. ValuEngine cut shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. J P Morgan Chase & Co decreased their target price on shares of Cemex SAB de CV from $11.20 to $10.60 and set an “overweight” rating on the stock in a research report on Monday, October 30th. Citigroup upgraded shares of Cemex SAB de CV from a “sell” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Monday, October 23rd. Finally, Bank of America cut shares of Cemex SAB de CV from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $10.60 to $10.70 in a research report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Cemex SAB de CV has a consensus rating of “Buy” and a consensus price target of $10.76.

Cemex SAB de CV (CX) traded up $0.01 during trading on Tuesday, hitting $7.50. 14,049,969 shares of the stock traded hands, compared to its average volume of 9,749,011. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.54 and a current ratio of 0.74. The stock has a market cap of $10,908.20, a PE ratio of 11.69, a P/E/G ratio of 0.91 and a beta of 1.31. Cemex SAB de CV has a 12-month low of $7.09 and a 12-month high of $10.37.

Cemex SAB de CV (NYSE:CX) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Cemex SAB de CV had a net margin of 8.38% and a return on equity of 8.71%. equities research analysts forecast that Cemex SAB de CV will post 0.52 EPS for the current year.

A number of large investors have recently modified their holdings of CX. Bronfman E.L. Rothschild L.P. grew its holdings in Cemex SAB de CV by 3.1% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 11,014 shares of the construction company’s stock worth $100,000 after acquiring an additional 333 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in Cemex SAB de CV in the 1st quarter worth $100,000. Neuberger Berman Group LLC bought a new stake in Cemex SAB de CV in the 2nd quarter worth $100,000. CENTRAL TRUST Co grew its holdings in Cemex SAB de CV by 143.5% in the 1st quarter. CENTRAL TRUST Co now owns 11,171 shares of the construction company’s stock worth $101,000 after acquiring an additional 6,583 shares during the last quarter. Finally, First Financial Equity Corporation bought a new stake in Cemex SAB de CV in the 1st quarter worth $101,000. Institutional investors own 40.44% of the company’s stock.

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Cemex SAB de CV Company Profile

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.

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