CEMEX, S.A.B. de C.V. (NYSE:CX) Receives $7.82 Average Price Target from Brokerages

Shares of CEMEX, S.A.B. de C.V. (NYSE:CX) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.82.

CX has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price objective on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 29th. 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 research report on Tuesday, October 29th. StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Scotiabank lowered their target price on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Finally, Barclays cut their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th.

Institutional Trading of CEMEX

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in CEMEX by 0.6% in the second quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock worth $127,697,000 after acquiring an additional 112,479 shares in the last quarter. AQR Capital Management LLC boosted its holdings 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 in the last quarter. RWC Asset Advisors US LLC increased its position in 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 buying an additional 3,796,262 shares during the last quarter. Perpetual Ltd raised its holdings 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in CEMEX by 8.9% during the third 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. Institutional investors and hedge funds own 82.97% of the company’s stock.

CEMEX Stock Down 3.2 %

CX opened at $5.47 on Friday. The stock’s 50 day moving average price is $5.89 and its 200 day moving average price is $6.47. 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 cap of $7.93 billion, a P/E ratio of 18.23 and a beta of 1.49. CEMEX has a 12 month low of $5.00 and a 12 month high of $9.27.

CEMEX Cuts Dividend

The business also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were paid a $0.021 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 0.7%. CEMEX’s dividend payout ratio is presently 13.33%.

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.