CEMEX (NYSE:CX) Downgraded by Royal Bank of Canada to “Underperform”

Royal Bank of Canada lowered shares of CEMEX (NYSE:CX) from a sector perform rating to an underperform rating in a research report released on Wednesday morning, MarketBeat.com reports. They currently have $5.00 target price on the construction company’s stock, down from their prior target price of $6.00.

CX has been the subject of several other research reports. Scotiabank cut their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $6.00 in a research note on Tuesday, October 29th. Finally, Barclays cut their target price on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.65.

CEMEX Price Performance

Shares of NYSE CX opened at $5.55 on Wednesday. The business’s 50 day moving average is $5.69 and its 200-day moving average is $6.15. The firm has a market cap of $8.04 billion, a P/E ratio of 18.50 and a beta of 1.50. CEMEX has a 1-year low of $5.00 and a 1-year high of $9.27. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49.

CEMEX Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.0207 per share. The ex-dividend date of this dividend is Tuesday, December 10th. CEMEX’s dividend payout ratio is currently 13.33%.

Institutional Trading of CEMEX

A number of hedge funds and other institutional investors have recently bought and sold shares of CX. Ashton Thomas Private Wealth LLC purchased a new stake in shares of CEMEX during the second quarter valued at approximately $33,000. Barclays PLC raised its stake in shares of CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares during the period. Allworth Financial LP lifted its holdings in shares of CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after buying an additional 1,747 shares in the last quarter. Aureus Asset Management LLC bought a new position in CEMEX in the 3rd quarter valued at $70,000. Finally, Vontobel Holding Ltd. purchased a new position in CEMEX during the third quarter worth about $77,000. Institutional investors own 82.97% of the company’s stock.

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.