CEMEX (NYSE:CX) Price Target Cut to $8.50 by Analysts at JPMorgan Chase & Co.

CEMEX (NYSE:CX) had its price objective cut by JPMorgan Chase & Co. from $9.50 to $8.50 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

A number of other research analysts also recently weighed in on CX. The Goldman Sachs Group increased their price target on CEMEX from $9.00 to $10.00 and gave the company a buy rating in a research note on Friday, April 26th. StockNews.com upgraded shares of CEMEX from a buy rating to a strong-buy rating in a research report on Friday, April 26th. Royal Bank of Canada assumed coverage on CEMEX in a report on Tuesday, May 14th. They set an underperform rating and a $9.00 target price for the company. Finally, Bank of America cut CEMEX from a buy rating to a neutral rating and set a $9.00 target price for the company. in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, CEMEX currently has a consensus rating of Hold and a consensus price target of $9.24.

CEMEX Stock Up 6.5 %

NYSE:CX opened at $6.68 on Monday. The stock’s fifty day moving average price is $7.04 and its two-hundred day moving average price is $7.75. CEMEX has a 52-week low of $5.67 and a 52-week high of $9.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.51 and a current ratio of 0.78. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 47.71 and a beta of 1.47.

CEMEX (NYSE:CX) last posted its quarterly earnings data on Monday, April 29th. The construction company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. The firm had revenue of $4.14 billion for the quarter. During the same period in the prior year, the company posted $0.15 EPS. On average, analysts anticipate that CEMEX will post 0.88 EPS for the current year.

CEMEX Announces Dividend

The company also recently announced 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 of this dividend was Monday, June 17th. CEMEX’s dividend payout ratio (DPR) is currently 14.29%.

Institutional Investors Weigh In On CEMEX

Several hedge funds have recently bought and sold shares of the company. Capital International Investors lifted its position in CEMEX by 0.5% during the fourth quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock worth $217,024,000 after acquiring an additional 152,587 shares during the last quarter. Principal Financial Group Inc. lifted its position in CEMEX by 7.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock worth $161,462,000 after acquiring an additional 1,521,007 shares during the last quarter. Schroder Investment Management Group lifted its position in CEMEX by 17.6% during the fourth quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock worth $76,262,000 after acquiring an additional 1,471,407 shares during the last quarter. American Century Companies Inc. lifted its position in CEMEX by 3.4% during the third quarter. American Century Companies Inc. now owns 9,744,804 shares of the construction company’s stock worth $63,341,000 after acquiring an additional 318,541 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in CEMEX by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock worth $68,274,000 after acquiring an additional 94,790 shares during the last quarter. 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.