CEMEX (NYSE:CX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

CEMEX (NYSE:CX) had its price target raised by The Goldman Sachs Group from $8.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 45.16% from the stock’s previous close.

Separately, Royal Bank of Canada boosted their price target on CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.82.

CEMEX Stock Performance

NYSE CX opened at $6.20 on Thursday. CEMEX has a 52-week low of $5.00 and a 52-week high of $9.27. The stock has a market cap of $8.98 billion, a PE ratio of 9.84 and a beta of 1.49. The firm has a 50-day moving average of $5.98 and a 200-day moving average of $5.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82.

CEMEX (NYSE:CX) last issued 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 net margin of 5.70% and a return on equity of 7.78%. On average, sell-side analysts anticipate that CEMEX will post 0.69 EPS for the current year.

Institutional Investors Weigh In On CEMEX

Several institutional investors have recently made changes to their positions in CX. IFP Advisors Inc raised its holdings in CEMEX by 159.1% in the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after acquiring an additional 3,062 shares in the last quarter. Barclays PLC increased its position in shares of CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after purchasing an additional 1,843 shares during the period. Allworth Financial LP raised its stake 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 in the last quarter. Townsquare Capital LLC bought a new stake in CEMEX during the fourth quarter worth about $57,000. Finally, Dark Forest Capital Management LP bought a new stake in CEMEX during the fourth quarter worth about $59,000. 82.97% of the stock is currently 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.