CEMEX (NYSE:CX) PT Lowered to $8.50

CEMEX (NYSE:CX) had its target price dropped by research analysts at JPMorgan Chase & Co. from $9.50 to $8.50 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 35.57% from the stock’s current price.

A number of other research firms also recently issued reports on CX. Royal Bank of Canada began coverage on shares of CEMEX in a research report on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 target price for the company. StockNews.com upgraded CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group raised their price target on CEMEX from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Bank of America cut CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CEMEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.39.

CEMEX Price Performance

Shares of NYSE:CX opened at $6.27 on Monday. The company has a market cap of $9.08 billion, a P/E ratio of 44.79 and a beta of 1.47. The company’s fifty day moving average is $7.07 and its two-hundred day moving average is $7.75. The company has a quick ratio of 0.51, a current ratio of 0.78 and a debt-to-equity ratio of 0.54. CEMEX has a 12-month low of $5.67 and a 12-month high of $9.27.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Monday, April 29th. The construction company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. The firm had revenue of $4.14 billion during the quarter. During the same period in the prior year, the company posted $0.15 earnings per share. Equities analysts expect that CEMEX will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of CEMEX

Large investors have recently modified their holdings of the company. Creative Financial Designs Inc. ADV bought a new position in CEMEX in the 4th quarter worth $26,000. CWM LLC grew its position in shares of CEMEX by 75.0% in the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after purchasing an additional 1,506 shares during the last quarter. Blue Trust Inc. increased its stake in shares of CEMEX by 65.0% in the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock worth $41,000 after purchasing an additional 2,062 shares during the period. Fisher Asset Management LLC lifted its position in shares of CEMEX by 3,180.2% during the 4th quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after purchasing an additional 10,590 shares during the last quarter. Finally, Prudent Man Advisors LLC bought a new stake in CEMEX during the 4th quarter valued at approximately $86,000. 82.97% of the stock is owned by institutional investors.

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.