CEMEX, S.A.B. de C.V. (NYSE:CX) Receives $7.65 Consensus PT from Analysts

CEMEX, S.A.B. de C.V. (NYSE:CX) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $7.65.

CX has been the subject of several recent analyst reports. Royal Bank of Canada cut CEMEX from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $6.00 to $5.00 in a report on Wednesday, December 11th. JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Scotiabank lowered their price target on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. Finally, Barclays lowered their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th.

CEMEX Stock Up 2.8 %

CX opened at $6.06 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 20.18 and a beta of 1.49. The business has a 50-day moving average of $5.64 and a two-hundred day moving average of $5.90. CEMEX has a 12 month low of $5.00 and a 12 month high of $9.27.

CEMEX Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.0207 per share. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s payout ratio is currently 20.00%.

Hedge Funds Weigh In On CEMEX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in CEMEX during the 3rd quarter worth approximately $190,346,000. AQR Capital Management LLC lifted its position in CEMEX by 28.4% during the 2nd quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock worth $121,113,000 after acquiring an additional 4,217,562 shares in the last quarter. JPMorgan Chase & Co. lifted its position in CEMEX by 123.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock worth $88,093,000 after acquiring an additional 7,986,204 shares in the last quarter. Perpetual Ltd lifted its position in CEMEX by 12.6% during the 3rd quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock worth $61,089,000 after acquiring an additional 1,117,379 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in CEMEX by 8.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock worth $60,327,000 after acquiring an additional 807,394 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.