CEMEX, S.A.B. de C.V. Plans Quarterly Dividend of $0.02 (NYSE:CX)

CEMEX, S.A.B. de C.V. (NYSE:CX) declared a quarterly dividend on Tuesday, June 10th, Wall Street Journal reports. Investors of record on Tuesday, June 17th will be given a dividend of 0.0224 per share by the construction company on Thursday, June 26th. This represents a $0.09 annualized dividend and a yield of 1.32%. The ex-dividend date is Tuesday, June 17th.

CEMEX Price Performance

NYSE:CX opened at $6.77 on Friday. The stock has a market cap of $9.81 billion, a P/E ratio of 10.75 and a beta of 1.40. CEMEX has a one year low of $4.89 and a one year high of $7.34. The company has a fifty day moving average price of $6.31 and a 200 day moving average price of $6.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. The company had revenue of $186.46 million for the quarter, compared to analyst estimates of $214.59 million. Analysts anticipate that CEMEX will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on CX shares. Wall Street Zen upgraded CEMEX from a “hold” rating to a “buy” rating in a research report on Saturday, May 3rd. Royal Bank of Canada raised their target price on CEMEX from $5.00 to $5.25 and gave the stock an “underperform” rating in a research report on Tuesday, April 29th. Morgan Stanley downgraded CEMEX from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. The Goldman Sachs Group lifted their price objective on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Bradesco Corretora set a $7.50 price objective on CEMEX and gave the company a “neutral” rating in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.58.

Hedge Funds Weigh In On CEMEX

A hedge fund recently raised its stake in CEMEX stock. Goldman Sachs Group Inc. lifted its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 58.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,187,143 shares of the construction company’s stock after acquiring an additional 2,661,030 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.50% of CEMEX worth $40,320,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.