Analysts Set CEMEX, S.A.B. de C.V. (NYSE:CX) PT at $7.65

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

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

CEMEX Stock Performance

NYSE CX opened at $5.98 on Friday. The company has a market capitalization of $8.66 billion, a P/E ratio of 19.92 and a beta of 1.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98. CEMEX has a 52-week low of $5.00 and a 52-week high of $9.27. The company has a fifty day moving average of $5.61 and a 200-day moving average of $5.91.

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 paid a dividend of $0.0207 per share. The ex-dividend date was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is 20.00%.

Institutional Investors Weigh In On CEMEX

A number of large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of CEMEX during the 3rd quarter worth approximately $190,346,000. AQR Capital Management LLC grew its stake in CEMEX by 28.4% in 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 period. JPMorgan Chase & Co. raised its holdings in CEMEX by 123.7% in 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 in the last quarter. Perpetual Ltd lifted its position in CEMEX by 12.6% during the third 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 period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of 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 valued at $60,327,000 after buying an additional 807,394 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.