CEMEX (NYSE:CX – Get Free Report) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $8.00 to $7.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 15.51% from the stock’s current price.
CX has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on shares of CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 price target for the company. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada upgraded CEMEX from an “underperform” rating to a “sector perform” rating and lowered their price target for the company from $9.00 to $6.50 in a research report on Tuesday. Finally, Barclays raised CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $8.12.
Check Out Our Latest Report on CEMEX
CEMEX Stock Performance
CEMEX (NYSE:CX – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $4.49 billion for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. On average, research analysts predict that CEMEX will post 0.82 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC raised its stake in shares of CEMEX by 6.9% during the first quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock worth $190,000 after buying an additional 1,358 shares during the last quarter. Aprio Wealth Management LLC raised its position in shares of CEMEX by 8.9% during the 1st quarter. Aprio Wealth Management LLC now owns 17,558 shares of the construction company’s stock valued at $158,000 after acquiring an additional 1,431 shares during the last quarter. CWM LLC lifted its stake in shares of CEMEX by 75.0% in the 1st quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after purchasing an additional 1,506 shares during the period. Thompson Davis & CO. Inc. boosted its position in shares of CEMEX by 6.3% in the 1st quarter. Thompson Davis & CO. Inc. now owns 26,800 shares of the construction company’s stock worth $241,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Lesa Sroufe & Co grew its stake in shares of CEMEX by 0.4% during the first quarter. Lesa Sroufe & Co now owns 400,951 shares of the construction company’s stock worth $3,613,000 after purchasing an additional 1,731 shares during the period. Institutional investors and hedge funds 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.
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