CEMEX (NYSE:CX) Trading Up 5.9%

CEMEX, S.A.B. de C.V. (NYSE:CX)’s share price traded up 5.9% on Wednesday . The stock traded as high as $6.66 and last traded at $6.64. 11,839,612 shares were traded during mid-day trading, an increase of 77% from the average session volume of 6,698,664 shares. The stock had previously closed at $6.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on CEMEX from $9.50 to $8.50 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada started coverage on shares of CEMEX in a research note on Tuesday, May 14th. They set an “underperform” rating and a $9.00 price target on the stock. StockNews.com raised shares of CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th. Bank of America cut shares of CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group assumed coverage on shares of CEMEX in a report on Wednesday. They set a “buy” rating and a $9.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CEMEX presently has an average rating of “Moderate Buy” and a consensus target price of $9.24.

CEMEX Trading Up 6.5 %

The company has a 50 day simple moving average of $7.07 and a 200 day simple moving average of $7.75. The stock has a market capitalization of $9.68 billion, a PE ratio of 47.43 and a beta of 1.47. The company has a current ratio of 0.78, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54.

CEMEX (NYSE:CX) last posted its quarterly earnings data on Monday, April 29th. The construction company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. The firm had revenue of $4.14 billion for the quarter. During the same quarter last year, the business earned $0.15 earnings per share. Analysts predict that CEMEX, S.A.B. de C.V. will post 0.88 earnings per share for the current fiscal year.

CEMEX Announces Dividend

The firm also recently declared a Variable dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were paid a $0.349 dividend. The ex-dividend date was Monday, June 17th. CEMEX’s dividend payout ratio (DPR) is presently 14.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CX. Creative Financial Designs Inc. ADV purchased a new stake in CEMEX in the 4th quarter valued at approximately $26,000. CWM LLC increased its stake in CEMEX by 75.0% during the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after acquiring an additional 1,506 shares during the last quarter. Blue Trust Inc. increased its position in CEMEX by 65.0% during the 4th quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock worth $41,000 after purchasing an additional 2,062 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of CEMEX by 3,180.2% in the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after acquiring an additional 10,590 shares in the last quarter. Finally, Prudent Man Advisors LLC purchased a new position in shares of CEMEX in the 4th quarter valued at $86,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.