CEMEX (NYSE:CX) Reaches New 12-Month Low at $5.66

Shares of CEMEX, S.A.B. de C.V. (NYSE:CX) reached a new 52-week low on Friday . The company traded as low as $5.66 and last traded at $5.66, with a volume of 5116879 shares trading hands. The stock had previously closed at $5.84.

Analyst Ratings Changes

CX has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 target price on the stock. Royal Bank of Canada started coverage on shares of CEMEX in a research note on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 target price for the company. StockNews.com raised shares of CEMEX from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 18th. Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $8.00 price objective on shares of CEMEX in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.70.

CEMEX Stock Down 3.1 %

The firm has a market capitalization of $8.20 billion, a PE ratio of 41.75 and a beta of 1.47. The business’s 50-day moving average price is $6.33 and its 200-day moving average price is $7.31. 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 (NYSE:CX) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. The company had revenue of $4.49 billion during the quarter. As a group, equities research analysts predict that CEMEX, S.A.B. de C.V. will post 0.84 EPS for the current fiscal year.

CEMEX Cuts Dividend

The company also recently declared a Variable dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.021 per share. The ex-dividend date is Friday, September 13th. This represents a yield of 0.7%. CEMEX’s payout ratio is 14.29%.

Institutional Investors Weigh In On CEMEX

A number of hedge funds have recently made changes to their positions in CX. Fisher Asset Management LLC raised its stake in shares of CEMEX by 3,180.2% during the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after acquiring an additional 10,590 shares in the last quarter. Spire Wealth Management increased its holdings in shares of CEMEX by 3.9% during the fourth quarter. Spire Wealth Management now owns 67,406 shares of the construction company’s stock valued at $503,000 after acquiring an additional 2,500 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of CEMEX by 9.5% during the fourth quarter. BNP Paribas Financial Markets now owns 1,029,329 shares of the construction company’s stock valued at $7,977,000 after buying an additional 89,375 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CEMEX by 7.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock valued at $161,462,000 after purchasing an additional 1,521,007 shares in the last quarter. Finally, Boston Partners purchased a new position in shares of CEMEX during the fourth quarter valued at approximately $5,523,000. 82.97% of the stock is currently owned by institutional investors.

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.