StockNews.com Downgrades CEMEX (NYSE:CX) to Buy

CEMEX (NYSE:CX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other equities research analysts also recently weighed in on CX. The Goldman Sachs Group initiated coverage on shares of CEMEX in a research report on Wednesday, July 10th. They set a “buy” rating and a $9.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on CEMEX from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays raised CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a report on Wednesday, July 31st. Finally, Royal Bank of Canada upgraded CEMEX from an “underperform” rating to a “sector perform” rating and lowered their price objective for the stock from $9.00 to $6.50 in a research note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.12.

CEMEX Stock Down 0.3 %

Shares of NYSE:CX opened at $6.14 on Friday. The firm has a market cap of $8.90 billion, a PE ratio of 43.86 and a beta of 1.47. The company has a fifty day simple moving average of $6.17 and a 200 day simple moving average of $6.93. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. CEMEX has a 12-month low of $5.50 and a 12-month high of $9.27.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $4.49 billion for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. On average, equities research analysts anticipate that CEMEX will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC raised its stake in shares of CEMEX by 6.9% during the first quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock valued at $190,000 after purchasing an additional 1,358 shares in the last quarter. Aprio Wealth Management LLC lifted its stake in shares of CEMEX by 8.9% in the 1st quarter. Aprio Wealth Management LLC now owns 17,558 shares of the construction company’s stock worth $158,000 after acquiring an additional 1,431 shares during the period. CWM LLC boosted its holdings in shares of CEMEX by 75.0% in the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after acquiring an additional 1,506 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of CEMEX by 6.3% during the first quarter. Thompson Davis & CO. Inc. now owns 26,800 shares of the construction company’s stock valued at $241,000 after acquiring an additional 1,600 shares during the period. Finally, Lesa Sroufe & Co raised its holdings in CEMEX by 0.4% during the first quarter. Lesa Sroufe & Co now owns 400,951 shares of the construction company’s stock worth $3,613,000 after purchasing an additional 1,731 shares in the last quarter. Institutional investors and hedge funds 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.