Cemex SAB de CV (NYSE:CX) Cut to “Hold” at HSBC

Cemex SAB de CV (NYSE:CX) was downgraded by investment analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Other equities analysts also recently issued research reports about the stock. Santander downgraded shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Zacks Investment Research raised shares of Cemex SAB de CV from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, ValuEngine upgraded shares of Cemex SAB de CV from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $6.75.

NYSE CX opened at $4.04 on Wednesday. The stock’s 50-day moving average price is $3.38 and its 200-day moving average price is $4.20. The company has a quick ratio of 0.53, a current ratio of 0.74 and a debt-to-equity ratio of 0.83. Cemex SAB de CV has a 52 week low of $2.82 and a 52 week high of $7.32. The company has a market capitalization of $5.92 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42.

Cemex SAB de CV (NYSE:CX) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $3.52 billion during the quarter. Cemex SAB de CV had a return on equity of 1.75% and a net margin of 2.37%. Research analysts anticipate that Cemex SAB de CV will post 0.31 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtus ETF Advisers LLC acquired a new position in Cemex SAB de CV during the 2nd quarter worth approximately $26,000. Covenant Multifamily Offices LLC bought a new stake in Cemex SAB de CV during the 1st quarter worth approximately $29,000. Golden State Wealth Management LLC increased its position in Cemex SAB de CV by 121.9% in the 2nd quarter. Golden State Wealth Management LLC now owns 7,281 shares of the construction company’s stock valued at $30,000 after acquiring an additional 4,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in Cemex SAB de CV by 100.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,000 shares of the construction company’s stock valued at $48,000 after acquiring an additional 5,000 shares during the period. Finally, Corient Capital Partners LLC acquired a new position in Cemex SAB de CV in the 1st quarter valued at approximately $47,000. Institutional investors own 30.72% of the company’s stock.

Cemex SAB de CV Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

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