Cemex S.A.B. de C.V. (NYSE:CX) Raised to “Strong-Buy” at BidaskClub

Cemex S.A.B. de C.V. (NYSE:CX) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday, July 12th.

Several other equities research analysts also recently weighed in on CX. Credit Suisse Group set a $11.00 price objective on Cemex S.A.B. de C.V. and gave the company a “buy” rating in a report on Friday, March 17th. Longbow Research raised Cemex S.A.B. de C.V. from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Friday, March 31st. Morgan Stanley raised Cemex S.A.B. de C.V. from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.50 to $11.00 in a report on Tuesday, April 4th. Zacks Investment Research raised Cemex S.A.B. de C.V. from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a report on Thursday, April 6th. Finally, UBS AG raised Cemex S.A.B. de C.V. from a “market perform” rating to an “outperform” rating in a report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Cemex S.A.B. de C.V. presently has a consensus rating of “Buy” and an average target price of $10.63.

Shares of Cemex S.A.B. de C.V. (NYSE:CX) traded down 0.62% during midday trading on Wednesday, reaching $9.65. The company had a trading volume of 3,441,553 shares. The company’s 50-day moving average is $9.70 and its 200-day moving average is $8.90. Cemex S.A.B. de C.V. has a 52-week low of $6.91 and a 52-week high of $10.37. The firm has a market cap of $144.74 billion, a P/E ratio of 122.15 and a beta of 1.34.

Cemex S.A.B. de C.V. (NYSE:CX) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Cemex S.A.B. de C.V. had a return on equity of 8.94% and a net margin of 8.34%. The company had revenue of $3.58 billion for the quarter. Equities research analysts expect that Cemex S.A.B. de C.V. will post $0.60 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dodge & Cox purchased a new stake in shares of Cemex S.A.B. de C.V. during the fourth quarter worth approximately $387,416,000. Banco Santander S.A. raised its stake in shares of Cemex S.A.B. de C.V. by 13.6% in the first quarter. Banco Santander S.A. now owns 8,330,463 shares of the construction company’s stock worth $66,106,000 after buying an additional 1,000,000 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Cemex S.A.B. de C.V. by 138.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,510,750 shares of the construction company’s stock worth $12,131,000 after buying an additional 877,502 shares during the last quarter. Comerica Bank raised its stake in shares of Cemex S.A.B. de C.V. by 3.7% in the fourth quarter. Comerica Bank now owns 99,725 shares of the construction company’s stock worth $795,000 after buying an additional 3,528 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Cemex S.A.B. de C.V. during the first quarter worth approximately $60,059,000. 39.13% of the stock is owned by hedge funds and other institutional investors.

About Cemex S.A.B. de C.V.

CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in over 50 countries throughout the world.

Analyst Recommendations for Cemex S.A.B. de C.V. (NYSE:CX)

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