CEMEX (NYSE:CX) Posts Earnings Results, Beats Estimates By $0.06 EPS

CEMEX (NYSE:CX) announced its quarterly earnings results on Thursday. The construction company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06, Zacks reports. CEMEX had a return on equity of 2.28% and a net margin of 2.67%.

CEMEX Stock Up 13.3 %

CX stock traded up $0.79 on Thursday, hitting $6.77. 25,564,288 shares of the company’s stock were exchanged, compared to its average volume of 10,648,530. The firm has a 50 day moving average price of $5.68 and a two-hundred day moving average price of $5.88. CEMEX has a 12-month low of $5.00 and a 12-month high of $9.27. The stock has a market cap of $9.82 billion, a P/E ratio of 22.58 and a beta of 1.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98.

CEMEX Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were given a $0.0207 dividend. The ex-dividend date was Tuesday, December 10th. CEMEX’s payout ratio is 20.00%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Royal Bank of Canada lowered shares of CEMEX from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from $6.00 to $5.00 in a report on Wednesday, December 11th. StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Barclays cut their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, Scotiabank decreased their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” 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 issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.65.

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.