CEMEX (NYSE:CX) Sets New 12-Month Low – What’s Next?

CEMEX, S.A.B. de C.V. (NYSE:CX) hit a new 52-week low during trading on Thursday . The stock traded as low as $4.89 and last traded at $5.35, with a volume of 25831594 shares traded. The stock had previously closed at $5.08.

Wall Street Analysts Forecast Growth

CX has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a report on Monday, February 10th. StockNews.com downgraded shares of CEMEX from a “buy” rating to a “hold” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Morgan Stanley cut shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.82.

CEMEX Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a market cap of $7.50 billion, a P/E ratio of 8.21 and a beta of 1.28. The stock’s 50 day moving average is $6.05 and its two-hundred day moving average is $5.82.

CEMEX (NYSE:CX) last issued its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. As a group, equities analysts predict that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a dividend of $0.0207 per share. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s payout ratio is presently 12.70%.

Hedge Funds Weigh In On CEMEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. raised its position in CEMEX by 111,708.6% in the 1st quarter. NBC Securities Inc. now owns 64,849 shares of the construction company’s stock valued at $363,000 after purchasing an additional 64,791 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of CEMEX by 3.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 77,957 shares of the construction company’s stock valued at $437,000 after buying an additional 2,570 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of CEMEX by 1,188.4% during the first quarter. GAMMA Investing LLC now owns 21,155 shares of the construction company’s stock worth $119,000 after purchasing an additional 19,513 shares in the last quarter. Vise Technologies Inc. acquired a new position in CEMEX during the 4th quarter worth $220,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of CEMEX by 30.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,745,819 shares of the construction company’s stock valued at $229,806,000 after acquiring an additional 9,541,622 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.