Zacks Investment Research upgraded shares of Cemex SAB de CV (NYSE:CX) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.
According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “
A number of other equities research analysts have also recently issued reports on the stock. HSBC cut shares of Cemex SAB de CV from a buy rating to a hold rating in a research report on Wednesday, September 11th. ValuEngine raised shares of Cemex SAB de CV from a sell rating to a hold rating in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $6.00.
Cemex SAB de CV (NYSE:CX) last issued its quarterly earnings data on Thursday, October 24th. The construction company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.05). Cemex SAB de CV had a net margin of 2.51% and a return on equity of 1.78%. The company had revenue of $3.49 billion for the quarter. Research analysts expect that Cemex SAB de CV will post 0.28 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC bought a new stake in Cemex SAB de CV during the 2nd quarter worth about $26,000. Golden State Wealth Management LLC raised its stake in shares of Cemex SAB de CV by 121.9% in the second quarter. Golden State Wealth Management LLC now owns 7,281 shares of the construction company’s stock worth $30,000 after acquiring an additional 4,000 shares during the last quarter. Howard Financial Services LTD. bought a new position in shares of Cemex SAB de CV in the third quarter worth about $42,000. TT International acquired a new position in shares of Cemex SAB de CV during the second quarter worth approximately $46,346,000. Finally, Traynor Capital Management Inc. acquired a new position in shares of Cemex SAB de CV during the third quarter worth approximately $43,000. Institutional investors and hedge funds own 33.53% of the company’s stock.
Cemex SAB de CV Company Profile
CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
Featured Article: Investing in Dividend Stocks
Get a free copy of the Zacks research report on Cemex SAB de CV (CX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cemex SAB de CV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemex SAB de CV and related companies with MarketBeat.com's FREE daily email newsletter.
