CEMEX, S.A.B. de C.V. (NYSE:CX) Given Consensus Recommendation of “Moderate Buy” by Analysts

CEMEX, S.A.B. de C.V. (NYSE:CX) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating 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 subject of several analyst reports. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Barclays decreased their target price 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. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. 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. Finally, Royal Bank of Canada reduced their target price on CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday, October 29th.

CEMEX Stock Performance

CEMEX stock opened at $5.47 on Friday. The stock’s 50 day moving average is $5.87 and its 200 day moving average is $6.43. The company has a market capitalization of $7.93 billion, a P/E ratio of 18.23 and a beta of 1.49. CEMEX has a twelve month low of $5.00 and a twelve month high of $9.27. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49.

CEMEX Cuts Dividend

The company also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were issued a dividend of $0.021 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s payout ratio is 13.33%.

Institutional Trading of CEMEX

Several large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in CEMEX in the third quarter worth about $190,346,000. Principal Financial Group Inc. boosted its holdings in shares of 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 buying an additional 112,479 shares during the last quarter. AQR Capital Management LLC grew its position in CEMEX by 28.4% during the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after buying an additional 4,217,562 shares during the period. RWC Asset Advisors US LLC increased its holdings 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 valued at $99,398,000 after buying an additional 3,796,262 shares during the last quarter. Finally, Perpetual Ltd raised its position in CEMEX by 12.6% in the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock worth $61,089,000 after acquiring an additional 1,117,379 shares during the period. Institutional investors own 82.97% of the company’s stock.

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.