Royal Bank of Canada Issues Positive Forecast for CEMEX (NYSE:CX) Stock Price

CEMEX (NYSE:CX) had its target price upped by Royal Bank of Canada from $5.00 to $6.00 in a report released on Monday,Benzinga reports. The firm currently has an underperform rating on the construction company’s stock.

CX has been the subject of several other reports. Barclays dropped their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. 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. Finally, JPMorgan Chase & Co. lowered CEMEX from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.82.

CEMEX Stock Down 0.7 %

NYSE CX opened at $6.65 on Monday. The stock’s 50-day moving average price is $5.75 and its 200-day moving average price is $5.88. The company has a market capitalization of $9.63 billion, a P/E ratio of 10.55 and a beta of 1.49. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. CEMEX has a 52 week low of $5.00 and a 52 week high of $9.27.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.82%. On average, equities research analysts predict that CEMEX will post 0.76 earnings per share for the current year.

CEMEX Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.0207 per share. The ex-dividend date was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is currently 9.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CX. Sanctuary Advisors LLC purchased a new stake in CEMEX during the second quarter valued at approximately $228,000. Creative Planning lifted its position in CEMEX by 13.7% in the third quarter. Creative Planning now owns 197,992 shares of the construction company’s stock worth $1,208,000 after buying an additional 23,896 shares during the last quarter. NBC Securities Inc. lifted its holdings in shares of CEMEX by 18.7% in the 3rd 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 last quarter. Vontobel Holding Ltd. purchased a new position in shares of CEMEX during the 3rd quarter worth about $77,000. Finally, Marathon Asset Management Ltd grew its holdings in CEMEX by 6.2% during the 3rd quarter. Marathon Asset Management Ltd now owns 7,343,309 shares of the construction company’s stock valued at $44,794,000 after purchasing an additional 426,357 shares during the last quarter. Hedge funds and other 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.