Cemex (NYSE:CX) Reaches New 1-Year High – What’s Next?

Shares of Cemex S.A.B. de C.V. (NYSE:CX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $13.12 and last traded at $12.77, with a volume of 5425107 shares traded. The stock had previously closed at $12.91.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CX shares. Citigroup lowered shares of Cemex from a “buy” rating to a “neutral” rating and increased their target price for the stock from $9.00 to $10.00 in a research note on Monday, October 13th. Barclays increased their price objective on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group boosted their target price on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Bank of America raised Cemex from a “neutral” rating to a “buy” rating and upped their price target for the stock from $10.00 to $10.80 in a research note on Wednesday, October 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cemex has an average rating of “Hold” and an average price target of $10.14.

Cemex Stock Performance

The firm has a market cap of $18.50 billion, a P/E ratio of 13.73, a PEG ratio of 0.87 and a beta of 1.59. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average is $11.53 and its two-hundred day moving average is $9.94.

Cemex (NYSE:CX) last issued its quarterly earnings data on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. Cemex had a return on equity of 6.85% and a net margin of 8.62%.The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $226.73 million. As a group, equities analysts predict that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were issued a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, December 15th. Cemex’s payout ratio is currently 9.68%.

Institutional Trading of Cemex

Several institutional investors and hedge funds have recently made changes to their positions in CX. WealthCollab LLC lifted its position in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after purchasing an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares during the last quarter. Ameriflex Group Inc. lifted its position in shares of Cemex by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after buying an additional 1,744 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Cemex by 63.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after buying an additional 2,027 shares during the last quarter. Finally, Reyes Financial Architecture Inc. bought a new position in shares of Cemex in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.