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

CEMEX, S.A.B. de C.V. (NYSE:CX) has received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $8.78.

CX has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on CEMEX from $9.50 to $8.50 and set an “overweight” rating on the stock in a research note on Monday, July 8th. Royal Bank of Canada initiated coverage on CEMEX in a research note on Tuesday, May 14th. They set an “underperform” rating and a $9.00 price target on the stock. Bank of America downgraded CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research note on Wednesday, April 24th. The Goldman Sachs Group initiated coverage on CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 price target on the stock. Finally, StockNews.com upgraded CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th.

Institutional Trading of CEMEX

Several hedge funds have recently modified their holdings of CX. Vanguard Group Inc. lifted its holdings in shares of CEMEX by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,449,289 shares of the construction company’s stock valued at $22,420,000 after buying an additional 141,005 shares during the period. Raymond James & Associates increased its stake in CEMEX by 34.9% in the 4th quarter. Raymond James & Associates now owns 68,017 shares of the construction company’s stock valued at $527,000 after purchasing an additional 17,615 shares in the last quarter. Blue Trust Inc. increased its stake in CEMEX by 65.0% in the 4th quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock valued at $41,000 after purchasing an additional 2,062 shares in the last quarter. Ballentine Partners LLC increased its stake in CEMEX by 10.3% in the 4th quarter. Ballentine Partners LLC now owns 19,769 shares of the construction company’s stock valued at $153,000 after purchasing an additional 1,839 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in CEMEX by 675.0% in the 4th quarter. International Assets Investment Management LLC now owns 447,766 shares of the construction company’s stock valued at $34,700,000 after purchasing an additional 389,990 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

CEMEX Trading Up 2.2 %

NYSE:CX opened at $6.13 on Friday. The stock’s 50 day moving average price is $6.51 and its 200 day moving average price is $7.57. The company has a market capitalization of $8.88 billion, a PE ratio of 43.79 and a beta of 1.47. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. CEMEX has a 52-week low of $5.66 and a 52-week high of $9.27.

CEMEX Announces Dividend

The business also recently disclosed a Variable dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were given a dividend of $0.349 per share. The ex-dividend date of this dividend was Monday, June 17th. CEMEX’s payout ratio is 14.29%.

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.