CEMEX (NYSE:CX) Shares Up 7.9% After Earnings Beat

CEMEX, S.A.B. de C.V. (NYSE:CX)’s stock price rose 7.9% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $6.50 and last traded at $6.46. Approximately 4,352,017 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 9,718,613 shares. The stock had previously closed at $5.98.

The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a return on equity of 2.28% and a net margin of 2.67%.

CEMEX Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were given a $0.0207 dividend. The ex-dividend date was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is presently 20.00%.

Analysts Set New Price Targets

A number of research analysts recently commented on CX shares. Royal Bank of Canada cut CEMEX from a “sector perform” rating to an “underperform” rating and decreased their price objective for the company from $6.00 to $5.00 in a report on Wednesday, December 11th. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Barclays decreased their price objective on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Scotiabank decreased their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.65.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CX. Creative Planning lifted its stake in CEMEX by 19.7% during the second quarter. Creative Planning now owns 174,096 shares of the construction company’s stock worth $1,112,000 after purchasing an additional 28,641 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of CEMEX during the second quarter worth $228,000. Perpetual Ltd increased its position in shares of CEMEX by 12.6% during the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock worth $61,089,000 after acquiring an additional 1,117,379 shares during the period. NBC Securities Inc. increased its position in shares of CEMEX by 18.7% during the third quarter. NBC Securities Inc. now owns 47,202 shares of the construction company’s stock worth $287,000 after acquiring an additional 7,442 shares during the period. Finally, Vontobel Holding Ltd. purchased a new stake in shares of CEMEX during the third quarter worth $77,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

CEMEX Stock Up 13.3 %

The business has a 50-day moving average price of $5.71 and a two-hundred day moving average price of $5.89. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The firm has a market cap of $9.82 billion, a PE ratio of 22.58 and a beta of 1.49.

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.