CEMEX (NYSE:CX) Price Target Raised to $6.00

CEMEX (NYSE:CX) had its target price increased by Royal Bank of Canada from $5.00 to $6.00 in a report released on Monday morning,Benzinga reports. Royal Bank of Canada currently has an underperform rating on the construction company’s stock.

Several other research analysts have also recently weighed in on CX. Barclays reduced their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. cut 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. Finally, Scotiabank reduced their price target on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.82.

CEMEX Trading Down 0.5 %

Shares of NYSE:CX opened at $6.59 on Monday. CEMEX has a 52-week low of $5.00 and a 52-week high of $9.27. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 10.46 and a beta of 1.49. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $5.78 and a 200-day moving average price of $5.89.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.82% and a net margin of 5.70%. Equities analysts predict that CEMEX will post 0.76 EPS for the current year.

CEMEX Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were issued a $0.0207 dividend. The ex-dividend date was Tuesday, December 10th. CEMEX’s payout ratio is currently 9.52%.

Institutional Trading of CEMEX

Institutional investors have recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in CEMEX by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after purchasing an additional 3,062 shares during the period. Barclays PLC grew its holdings in CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares during the period. Allworth Financial LP grew its holdings in CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,747 shares during the period. Franklin Resources Inc. acquired a new stake in CEMEX in the fourth quarter valued at approximately $63,000. Finally, Aureus Asset Management LLC acquired a new stake in CEMEX in the third quarter valued at approximately $70,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.