CEMEX (NYSE:CX) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of CEMEX (NYSE:CX) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $9.00 price target on the construction company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 31.58% from the company’s previous close.

CX has been the subject of several other research reports. Royal Bank of Canada began coverage on shares of CEMEX in a report on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 price target for the company. StockNews.com upgraded shares of CEMEX from a “buy” rating to a “strong-buy” rating in a report on Friday, April 26th. Bank of America cut shares of CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CEMEX from $9.50 to $8.50 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CEMEX currently has a consensus rating of “Hold” and a consensus price target of $9.24.

CEMEX Stock Up 2.4 %

Shares of NYSE CX opened at $6.84 on Wednesday. The stock has a market cap of $9.91 billion, a P/E ratio of 48.86 and a beta of 1.47. The firm has a 50 day moving average price of $7.02 and a 200 day moving average price of $7.74. 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 has a 52-week low of $5.67 and a 52-week high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings data on Monday, April 29th. The construction company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $4.14 billion during the quarter. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. During the same quarter in the prior year, the firm posted $0.15 EPS. Analysts expect that CEMEX will post 0.88 EPS for the current year.

Institutional Trading of CEMEX

Institutional investors have recently made changes to their positions in the business. Cetera Advisors LLC bought a new position in CEMEX in the 1st quarter valued at about $130,000. Blackstone Inc. bought a new position in CEMEX in the 1st quarter valued at about $7,658,000. Beck Capital Management LLC raised its holdings in CEMEX by 1.0% in the 1st quarter. Beck Capital Management LLC now owns 403,811 shares of the construction company’s stock valued at $3,638,000 after acquiring an additional 4,073 shares during the period. 1832 Asset Management L.P. raised its holdings in CEMEX by 16.6% in the 1st quarter. 1832 Asset Management L.P. now owns 23,000 shares of the construction company’s stock valued at $207,000 after acquiring an additional 3,270 shares during the period. Finally, Quadrature Capital Ltd bought a new position in CEMEX in the 1st quarter valued at about $1,090,000. Institutional investors own 82.97% of the company’s stock.

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.