Brokerages Set CEMEX, S.A.B. de C.V. (NYSE:CX) PT at $8.78

CEMEX, S.A.B. de C.V. (NYSE:CX) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $8.78.

Several equities analysts have recently commented on the stock. Bank of America cut shares of CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Wednesday, April 24th. The Goldman Sachs Group initiated coverage on shares of CEMEX in a research report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on shares of CEMEX from $9.50 to $8.50 and set an “overweight” rating for the company in a research report on Monday, July 8th. StockNews.com upgraded shares of CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Finally, Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a research report on Wednesday, July 31st.

Institutional Investors Weigh In On CEMEX

A number of institutional investors have recently added to or reduced their stakes in CX. RWC Asset Advisors US LLC grew its holdings in CEMEX by 32.3% during the 2nd quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock worth $99,398,000 after acquiring an additional 3,796,262 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 valued at $161,462,000 after purchasing 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 valued at $76,262,000 after purchasing an additional 1,471,407 shares during the last quarter. Robertson Stephens Wealth Management LLC bought a new stake in shares of CEMEX in the 4th quarter valued at $11,261,000. Finally, Moneda S.A. Administradora General de Fondos bought a new stake in shares of CEMEX in the 4th quarter valued at $8,232,000. 82.97% of the stock is owned by institutional investors.

CEMEX Price Performance

Shares of NYSE:CX opened at $6.37 on Friday. The firm has a 50 day moving average of $6.46 and a 200-day moving average of $7.55. The stock has a market capitalization of $9.23 billion, a PE ratio of 45.50 and a beta of 1.47. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. CEMEX has a 12 month low of $5.66 and a 12 month high of $9.27.

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 issued a dividend of $0.349 per share. The ex-dividend date was Monday, June 17th. CEMEX’s payout ratio is 14.29%.

About CEMEX

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.