Zacks Research Downgrades Cemex (NYSE:CX) to Hold

Cemex (NYSE:CX) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. HSBC cut Cemex from a “buy” rating to a “hold” rating and set a $12.80 price objective on the stock. in a research note on Friday, February 6th. Citigroup lowered shares of Cemex from a “buy” rating to a “neutral” rating and increased their price objective for the company from $9.00 to $10.00 in a research note on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Barclays reiterated an “overweight” rating and set a $15.00 price target on shares of Cemex in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cemex presently has an average rating of “Hold” and a consensus target price of $11.04.

Cemex Price Performance

Cemex stock opened at $12.92 on Monday. The stock’s 50 day moving average price is $12.02 and its two-hundred day moving average price is $10.32. The stock has a market capitalization of $18.72 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 0.87 and a beta of 1.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.62 and a current ratio of 0.83. Cemex has a 52-week low of $4.89 and a 52-week high of $13.35.

Cemex (NYSE:CX) last posted its quarterly earnings results on Thursday, February 5th. The construction company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.38). Cemex had a net margin of 5.93% and a return on equity of 2.85%. The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.01 billion. On average, equities analysts predict that Cemex will post 0.69 earnings per share for the current year.

Hedge Funds Weigh In On Cemex

Several hedge funds have recently bought and sold shares of CX. Sequoia Financial Advisors LLC grew its position in shares of Cemex by 5.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock valued at $193,000 after purchasing an additional 913 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Cemex by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock valued at $2,875,000 after acquiring an additional 1,221 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Cemex by 5.5% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,201 shares of the construction company’s stock valued at $218,000 after acquiring an additional 1,268 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cemex by 4.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock worth $329,000 after purchasing an additional 1,288 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Cemex by 3.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after purchasing an additional 1,389 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.