Cemex S.A.B. de C.V. (NYSE:CX) Receives $9.52 Average Price Target from Analysts

Cemex S.A.B. de C.V. (NYSE:CX) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $9.5188.

Several brokerages have recently weighed in on CX. Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their target price on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Wall Street Zen downgraded Cemex from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. raised shares of Cemex from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $8.10 to $10.50 in a research report on Tuesday, August 26th. Finally, Barclays increased their price target on shares of Cemex from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th.

Cemex Stock Up 10.0%

Shares of Cemex stock opened at $10.30 on Friday. The business has a 50-day moving average of $9.23 and a 200-day moving average of $7.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61. The company has a market capitalization of $14.92 billion, a PE ratio of 10.09, a P/E/G ratio of 1.35 and a beta of 1.51. Cemex has a 1-year low of $4.89 and a 1-year high of $10.36.

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.09 annualized dividend and a dividend yield of 0.9%. Cemex’s dividend payout ratio (DPR) is presently 8.82%.

Hedge Funds Weigh In On Cemex

A number of large investors have recently bought and sold shares of the business. Dodge & Cox lifted its holdings in Cemex by 35.1% in the second quarter. Dodge & Cox now owns 95,023,835 shares of the construction company’s stock worth $658,515,000 after acquiring an additional 24,703,035 shares during the last quarter. Brandes Investment Partners LP raised its holdings in Cemex by 7.7% during the second quarter. Brandes Investment Partners LP now owns 32,648,163 shares of the construction company’s stock worth $226,252,000 after purchasing an additional 2,337,817 shares in the last quarter. Orbis Allan Gray Ltd increased its holdings in shares of Cemex by 90.2% in the second quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock valued at $182,263,000 after buying an additional 12,469,417 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Cemex by 54.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 10,366,666 shares of the construction company’s stock valued at $93,196,000 after buying an additional 3,639,547 shares in the last quarter. Finally, Perpetual Ltd increased its holdings in shares of Cemex by 0.7% in the third quarter. Perpetual Ltd now owns 9,201,553 shares of the construction company’s stock valued at $82,722,000 after buying an additional 61,633 shares in the last quarter. 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.