CEMEX (NYSE:CX) Stock Rating Lowered by Itau BBA Securities

CEMEX (NYSE:CX) was downgraded by investment analysts at Itau BBA Securities from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, Marketbeat.com reports.

A number of other equities research analysts have also commented on CX. JPMorgan Chase & Co. upped their price target on CEMEX from $6.00 to $6.80 and gave the company a “neutral” rating in a research report on Tuesday, April 29th. Royal Bank of Canada lifted their price objective on CEMEX from $5.00 to $5.25 and gave the stock an “underperform” rating in a research note on Tuesday, April 29th. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. Wall Street Zen upgraded shares of CEMEX from a “hold” rating to a “buy” rating in a report on Saturday, May 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.58.

CEMEX Trading Down 0.4%

Shares of NYSE CX opened at $6.79 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. CEMEX has a 52-week low of $4.89 and a 52-week high of $7.34. The firm has a 50 day moving average price of $6.11 and a two-hundred day moving average price of $5.97. The stock has a market cap of $9.84 billion, a P/E ratio of 10.78 and a beta of 1.41.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 EPS for the quarter. The company had revenue of $186.46 million for the quarter, compared to analyst estimates of $214.59 million. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. As a group, equities analysts forecast that CEMEX will post 0.69 EPS for the current year.

Hedge Funds Weigh In On CEMEX

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc increased its stake in shares of CEMEX by 159.1% in the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after acquiring an additional 3,062 shares in the last quarter. Natixis Advisors LLC grew its holdings in CEMEX by 13.6% in the fourth quarter. Natixis Advisors LLC now owns 358,776 shares of the construction company’s stock worth $2,023,000 after purchasing an additional 43,089 shares during the period. Vanguard Group Inc. grew its holdings in CEMEX by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,863,502 shares of the construction company’s stock worth $21,790,000 after purchasing an additional 53,269 shares during the period. QRG Capital Management Inc. increased its stake in CEMEX by 30.5% in the fourth quarter. QRG Capital Management Inc. now owns 30,937 shares of the construction company’s stock valued at $174,000 after purchasing an additional 7,232 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in shares of CEMEX during the fourth quarter valued at about $63,000. 82.97% of the stock is currently owned by institutional investors.

CEMEX Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.