CEMEX (NYSE:CX) Hits New 1-Year Low – What’s Next?

CEMEX, S.A.B. de C.V. (NYSE:CX)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $4.97 and last traded at $5.10, with a volume of 6541374 shares trading hands. The stock had previously closed at $5.56.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CX shares. Royal Bank of Canada increased their target price on shares of CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group upped their price objective on CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, CEMEX has a consensus rating of “Hold” and an average target price of $7.82.

CEMEX Trading Down 8.5 %

The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $6.17 and its 200 day moving average price is $5.88. The company has a market capitalization of $7.37 billion, a P/E ratio of 8.07 and a beta of 1.28.

CEMEX (NYSE:CX) last posted its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. As a group, equities research analysts predict that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current year.

CEMEX Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were given a $0.0207 dividend. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s dividend payout ratio is currently 12.70%.

Institutional Investors Weigh In On CEMEX

Large investors have recently made changes to their positions in the business. Dodge & Cox grew its position in CEMEX by 7,200.6% during the fourth quarter. Dodge & Cox now owns 49,622,009 shares of the construction company’s stock valued at $279,868,000 after buying an additional 48,942,309 shares during the period. Schroder Investment Management Group raised its holdings in shares of CEMEX by 745.6% in the 4th quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company’s stock worth $150,809,000 after purchasing an additional 23,576,914 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in CEMEX during the fourth quarter valued at $86,056,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CEMEX by 30.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,745,819 shares of the construction company’s stock valued at $229,806,000 after buying an additional 9,541,622 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of CEMEX by 123.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock valued at $88,093,000 after buying an additional 7,986,204 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other 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.