CEMEX’s (CX) “Overweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their overweight rating on shares of CEMEX (NYSE:CX) in a report issued on Wednesday, Marketbeat Ratings reports. They currently have a $8.00 target price on the construction company’s stock.

Several other equities research analysts have also recently commented on CX. Barclays upgraded CEMEX from an equal weight rating to an overweight rating and set a $9.00 price objective on the stock in a report on Wednesday, July 31st. StockNews.com upgraded shares of CEMEX from a buy rating to a strong-buy rating in a report on Thursday, July 18th. The Goldman Sachs Group started coverage on shares of CEMEX in a report on Wednesday, July 10th. They issued a buy rating and a $9.00 price objective for the company. Bank of America lowered CEMEX from a buy rating to a neutral rating and set a $9.00 target price on the stock. in a report on Wednesday, April 24th. Finally, Royal Bank of Canada assumed coverage on CEMEX in a research note on Tuesday, May 14th. They set an underperform rating and a $9.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $8.70.

CEMEX Trading Up 3.3 %

Shares of CX opened at $6.58 on Wednesday. The business’s 50-day moving average price is $6.40 and its 200 day moving average price is $7.42. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $9.53 billion, a P/E ratio of 47.00 and a beta of 1.47. CEMEX has a 1-year low of $5.66 and a 1-year high of $9.27.

CEMEX (NYSE:CX) last issued its earnings results on Thursday, July 25th. The construction company reported $0.17 EPS for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. The business had revenue of $4.49 billion during the quarter. Analysts expect that CEMEX will post 0.85 earnings per share for the current year.

CEMEX Dividend Announcement

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

Institutional Trading of CEMEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC lifted its position in CEMEX by 6.9% in the first quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock worth $190,000 after purchasing an additional 1,358 shares during the period. Aprio Wealth Management LLC lifted its holdings in shares of CEMEX by 8.9% during 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. Parallel Advisors LLC boosted its position in shares of CEMEX by 11.5% during the 4th quarter. Parallel Advisors LLC now owns 14,006 shares of the construction company’s stock valued at $109,000 after acquiring an additional 1,443 shares in the last quarter. CWM LLC increased its stake in 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 during the period. Finally, Thompson Davis & CO. Inc. raised its position in CEMEX by 6.3% in the first quarter. Thompson Davis & CO. Inc. now owns 26,800 shares of the construction company’s stock worth $241,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.