Analysts Set CEMEX, S.A.B. de C.V. (NYSE:CX) Price Target at $7.65

Shares of CEMEX, S.A.B. de C.V. (NYSE:CX) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.65.

CX has been the topic of several recent research reports. Barclays lowered their price objective 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 cut CEMEX from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $6.00 to $5.00 in a report on Wednesday, December 11th. Scotiabank reduced their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research note on Tuesday, October 29th. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. lowered 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 report on Tuesday, October 29th.

Hedge Funds Weigh In On CEMEX

Several institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its holdings in shares of CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after buying an additional 1,747 shares in the last quarter. Barclays PLC lifted its stake in CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after purchasing an additional 1,843 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in CEMEX by 3.6% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 75,949 shares of the construction company’s stock valued at $463,000 after purchasing an additional 2,654 shares during the period. 1832 Asset Management L.P. grew its position in shares of CEMEX by 13.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 26,200 shares of the construction company’s stock valued at $167,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of CEMEX by 14.7% in the third quarter. Private Advisor Group LLC now owns 26,831 shares of the construction company’s stock worth $164,000 after purchasing an additional 3,441 shares during the period. Institutional investors own 82.97% of the company’s stock.

CEMEX Stock Up 3.6 %

CEMEX stock opened at $5.98 on Friday. The firm has a market capitalization of $8.66 billion, a P/E ratio of 19.92 and a beta of 1.49. The company has a 50-day simple moving average of $5.61 and a 200-day simple moving average of $5.91. CEMEX has a one year low of $5.00 and a one year high of $9.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98.

CEMEX Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.0207 per share. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s dividend payout ratio is currently 20.00%.

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.