CEMEX (NYSE:CX) Downgraded by StockNews.com

StockNews.com downgraded shares of CEMEX (NYSE:CX) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

Other analysts also recently issued research reports about the company. Royal Bank of Canada assumed coverage on CEMEX in a research note on Tuesday, May 14th. They issued an underperform rating and a $9.00 price target on the stock. The Goldman Sachs Group assumed coverage on CEMEX in a research note on Wednesday. They issued a buy rating and a $9.00 price target on the stock. Bank of America downgraded CEMEX from a buy rating to a neutral rating and set a $9.00 price target on the stock. in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. cut their price target on CEMEX from $9.50 to $8.50 and set an overweight rating on the stock in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $9.24.

CEMEX Stock Up 0.7 %

Shares of NYSE:CX opened at $6.89 on Wednesday. CEMEX has a 52-week low of $5.67 and a 52-week high of $9.27. The firm has a market capitalization of $9.98 billion, a P/E ratio of 49.21 and a beta of 1.47. The stock has a 50 day moving average price of $7.00 and a 200-day moving average price of $7.73. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.51 and a current ratio of 0.78.

CEMEX (NYSE:CX) last announced its earnings results on Monday, April 29th. The construction company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. The firm had revenue of $4.14 billion during the quarter. During the same period in the prior year, the company posted $0.15 EPS. As a group, equities research analysts anticipate that CEMEX will post 0.85 EPS for the current fiscal year.

CEMEX Dividend Announcement

The firm also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were paid a dividend of $0.349 per share. The ex-dividend date was Monday, June 17th. CEMEX’s dividend payout ratio is 14.29%.

Institutional Trading of CEMEX

Several institutional investors have recently added to or reduced their stakes in the business. Capital International Investors boosted its stake in shares of CEMEX by 0.5% in the 4th quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock worth $217,024,000 after buying an additional 152,587 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of CEMEX by 7.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock worth $161,462,000 after buying an additional 1,521,007 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of CEMEX by 17.6% in the 4th quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock worth $76,262,000 after buying an additional 1,471,407 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of CEMEX by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 9,744,804 shares of the construction company’s stock worth $63,341,000 after buying an additional 318,541 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CEMEX by 1.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock worth $68,274,000 after buying an additional 94,790 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.