CEMEX (NYSE:CX) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

CEMEX (NYSE:CX) issued its quarterly earnings results on Thursday. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06, Zacks reports. CEMEX had a net margin of 2.67% and a return on equity of 2.28%.

CEMEX Price Performance

NYSE CX traded up $0.79 during trading on Thursday, reaching $6.77. The company’s stock had a trading volume of 25,555,433 shares, compared to its average volume of 10,648,268. 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 $9.82 billion, a PE ratio of 22.58 and a beta of 1.49. The firm has a fifty day moving average of $5.68 and a 200 day moving average of $5.88. CEMEX has a one year low of $5.00 and a one year high of $9.27.

CEMEX Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were issued a dividend of $0.0207 per share. The ex-dividend date was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is 20.00%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CX shares. Barclays lowered their target price on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Royal Bank of Canada downgraded CEMEX from a “sector perform” rating to an “underperform” rating and cut their price target for the company from $6.00 to $5.00 in a report on Wednesday, December 11th. Scotiabank lowered their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research report on Tuesday, October 29th. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CEMEX presently has a consensus rating of “Hold” and a consensus price target of $7.65.

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.