CEMEX, S.A.B. de C.V. (NYSE:CX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of CEMEX, S.A.B. de C.V. (NYSE:CX) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $7.82.

Several brokerages have recently weighed in on CX. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Barclays decreased their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Royal Bank of Canada decreased their price target on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $7.00 to $6.00 in a research note on Tuesday, October 29th. Finally, Scotiabank decreased their price target on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research note on Tuesday, October 29th.

CEMEX Stock Performance

NYSE CX opened at $5.33 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average price is $5.87 and its two-hundred day moving average price is $6.46. CEMEX has a 1 year low of $5.00 and a 1 year high of $9.27. The firm has a market capitalization of $7.72 billion, a P/E ratio of 17.77 and a beta of 1.49.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were issued a dividend of $0.021 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s dividend payout ratio is 13.33%.

Institutional Investors Weigh In On CEMEX

A number of hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. raised its stake in CEMEX by 12.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 555,959 shares of the construction company’s stock valued at $3,391,000 after acquiring an additional 63,274 shares during the period. Hantz Financial Services Inc. raised its stake in CEMEX by 12.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 192,392 shares of the construction company’s stock valued at $1,174,000 after acquiring an additional 21,503 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in CEMEX in the 3rd quarter valued at about $190,346,000. BNP Paribas Financial Markets grew its holdings in CEMEX by 166.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,077,576 shares of the construction company’s stock valued at $24,873,000 after buying an additional 2,549,852 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in CEMEX by 63.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock valued at $32,927,000 after buying an additional 2,090,688 shares in the last quarter. 82.97% of the stock is currently owned by 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.