CEMEX, S.A.B. de C.V. (NYSE:CX) Given Average Rating of “Hold” by Brokerages

CEMEX, S.A.B. de C.V. (NYSE:CX) has earned a consensus recommendation of “Hold” from the six analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.65.

A number of research firms have recently commented on CX. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Barclays dropped their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Scotiabank cut their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. Finally, Royal Bank of Canada lowered shares of CEMEX from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from $6.00 to $5.00 in a research note on Wednesday, December 11th.

CEMEX Stock Performance

NYSE:CX opened at $5.68 on Monday. CEMEX has a 12 month low of $5.00 and a 12 month high of $9.27. 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 firm has a market capitalization of $8.23 billion, a PE ratio of 18.93 and a beta of 1.50. The business’s fifty day moving average price is $5.60 and its 200 day moving average price is $6.02.

CEMEX Dividend Announcement

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

Institutional Trading of CEMEX

A number of large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in CEMEX during the 3rd quarter valued at approximately $190,346,000. AQR Capital Management LLC raised its stake in shares of CEMEX by 28.4% during the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock worth $121,113,000 after purchasing an additional 4,217,562 shares during the last quarter. RWC Asset Advisors US LLC lifted its holdings in shares of CEMEX by 32.3% during the second quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock worth $99,398,000 after purchasing an additional 3,796,262 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of CEMEX by 123.7% during the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock worth $88,093,000 after purchasing an additional 7,986,204 shares during the period. Finally, Perpetual Ltd grew its position in CEMEX by 12.6% in the 3rd quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock valued at $61,089,000 after buying an additional 1,117,379 shares during 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.