Cemex (NYSE:CX) Raised to “Buy” at Wall Street Zen

Cemex (NYSE:CX) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

A number of other research analysts also recently issued reports on CX. JPMorgan Chase & Co. raised Cemex from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $8.10 to $10.50 in a research note on Tuesday, August 26th. Bank of America raised Cemex from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $10.80 in a research note on Wednesday, October 15th. Citigroup downgraded Cemex from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $9.00 to $10.00 in a research note on Monday, October 13th. The Goldman Sachs Group boosted their price objective on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday. Finally, Scotiabank reissued an “outperform” rating on shares of Cemex in a research note on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.49.

Cemex Stock Down 0.9%

Shares of CX opened at $9.57 on Friday. The company has a market capitalization of $13.86 billion, a PE ratio of 9.38, a PEG ratio of 1.39 and a beta of 1.51. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The stock’s 50-day moving average price is $9.13 and its two-hundred day moving average price is $7.65. Cemex has a 12 month low of $4.89 and a 12 month high of $9.97.

Cemex (NYSE:CX) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. On average, analysts anticipate that Cemex will post 0.69 EPS for the current year.

Institutional Investors Weigh In On Cemex

Institutional investors have recently bought and sold shares of the stock. WealthCollab LLC grew its holdings in Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after buying an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after buying an additional 3,093 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after buying an additional 2,027 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Cemex during the first quarter worth $29,000. Finally, Militia Capital Partners LP bought a new stake in Cemex during the second quarter worth $46,000. 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.