Cemex (NYSE:CX) Price Target Raised to $13.50

Cemex (NYSE:CX) had its price target increased by Royal Bank Of Canada from $12.75 to $13.50 in a research report released on Friday, MarketBeat.com reports. The brokerage currently has a sector perform rating on the construction company’s stock.

A number of other equities analysts also recently commented on CX. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cemex in a research report on Tuesday, May 26th. JPMorgan Chase & Co. upped their target price on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Santander raised Cemex to an “outperform” rating in a research note on Thursday, June 11th. Scotiabank lifted their price target on Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Finally, Barclays boosted their price target on shares of Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cemex presently has an average rating of “Moderate Buy” and a consensus price target of $13.07.

Cemex Stock Up 0.1%

CX stock opened at $12.07 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $12.57 and a two-hundred day moving average of $12.23. Cemex has a 12 month low of $8.15 and a 12 month high of $13.67. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 35.52 and a beta of 1.52.

Cemex (NYSE:CX) last issued its earnings results on Thursday, July 23rd. The construction company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Cemex had a return on equity of 3.82% and a net margin of 2.83%. As a group, analysts forecast that Cemex will post 0.87 earnings per share for the current fiscal year.

Cemex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were issued a $0.0312 dividend. This is a boost from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, June 17th. Cemex’s payout ratio is currently 37.50%.

Insiders Place Their Bets

In related news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total value of $425,600.00. Following the completion of the transaction, the insider directly owned 846,010 shares in the company, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Cemex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its holdings 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 worth $193,000 after purchasing an additional 913 shares during the period. Ameriprise Financial Inc. raised its holdings in 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 buying an additional 1,221 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Cemex by 4.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock valued at $329,000 after buying an additional 1,288 shares during the last quarter. Ieq Capital LLC lifted its position in Cemex by 7.6% in the fourth quarter. Ieq Capital LLC now owns 19,598 shares of the construction company’s stock valued at $225,000 after buying an additional 1,380 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Cemex by 3.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after buying an additional 1,389 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Company Profile

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.