CEMEX (NYSE:CX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of CEMEX (NYSE:CX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

CX has been the subject of several other reports. Bradesco Corretora set a $7.50 price target on CEMEX and gave the stock a “neutral” rating in a research report on Tuesday. Royal Bank of Canada dropped their target price on shares of CEMEX from $6.00 to $5.00 and set an “underperform” rating for the company in a report on Monday. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group upped their price objective on shares of CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, CEMEX presently has a consensus rating of “Hold” and a consensus price target of $7.63.

CEMEX Trading Down 0.4 %

Shares of CX stock opened at $5.21 on Wednesday. The stock has a 50 day simple moving average of $5.97 and a 200-day simple moving average of $5.80. CEMEX has a 1-year low of $4.89 and a 1-year high of $8.48. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 8.27 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58.

CEMEX (NYSE:CX) last released its earnings results on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. On average, equities research analysts expect that CEMEX will post 0.69 EPS for the current fiscal year.

CEMEX Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were given a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX’s payout ratio is 12.70%.

Hedge Funds Weigh In On CEMEX

Large investors have recently modified their holdings of the business. IFP Advisors Inc increased its position in shares of CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after purchasing an additional 3,062 shares during the last quarter. Barclays PLC increased its position in shares of CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after acquiring an additional 1,843 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of CEMEX in the 4th quarter valued at approximately $57,000. Dark Forest Capital Management LP acquired a new position in shares of CEMEX in the 4th quarter worth approximately $59,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of CEMEX during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds 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.