Shares of Cemex S.A.B. de C.V. (NYSE:CX – Get Free Report) have received an average rating of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $7.58.
A number of research firms recently commented on CX. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research report on Saturday, May 3rd. The Goldman Sachs Group raised their target price on shares of Cemex from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of Cemex from $6.00 to $6.80 and gave the company a “neutral” rating in a research note on Tuesday, April 29th. Royal Bank Of Canada increased their target price on Cemex from $5.00 to $5.25 and gave the company an “underperform” rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley cut Cemex from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 26th.
View Our Latest Research Report on Cemex
Cemex Stock Down 2.9%
Cemex (NYSE:CX – Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share (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 8.84% and a return on equity of 6.47%. Sell-side analysts predict that Cemex will post 0.69 EPS for the current year.
Cemex Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th will be issued a $0.0224 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.09 annualized dividend and a yield of 1.33%. Cemex’s payout ratio is 8.33%.
Hedge Funds Weigh In On Cemex
A number of hedge funds have recently modified their holdings of the business. Allworth Financial LP lifted its position in shares of Cemex by 289.7% during the fourth quarter. Allworth Financial LP now owns 25,745 shares of the construction company’s stock worth $144,000 after purchasing an additional 19,139 shares in the last quarter. South Dakota Investment Council raised its position in shares of Cemex by 43,530.9% during the 4th quarter. South Dakota Investment Council now owns 936,319 shares of the construction company’s stock worth $5,281,000 after acquiring an additional 934,173 shares in the last quarter. RWC Asset Advisors US LLC boosted its holdings in shares of Cemex by 6.4% in the 4th quarter. RWC Asset Advisors US LLC now owns 12,039,601 shares of the construction company’s stock valued at $67,903,000 after buying an additional 719,735 shares in the last quarter. RWC Asset Management LLP boosted its stake in Cemex by 46.1% in the fourth quarter. RWC Asset Management LLP now owns 5,862,677 shares of the construction company’s stock valued at $33,065,000 after acquiring an additional 1,848,597 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Cemex by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after buying an additional 3,062 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other 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.
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