Cemex SAB de CV (NYSE:CX) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Tuesday, December 19th, MarketBeat reports. The firm presently has a $10.00 target price on the construction company’s stock. Citigroup’s price target would suggest a potential upside of 24.53% from the company’s current price.
Several other brokerages also recently issued reports on CX. ValuEngine downgraded shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Cemex SAB de CV from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Santander downgraded shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. JPMorgan Chase & Co. lowered their price objective on shares of Cemex SAB de CV from $11.20 to $10.60 and set an “overweight” rating on the stock in a research report on Monday, October 30th. Finally, Bank of America downgraded shares of Cemex SAB de CV from a “buy” rating to a “neutral” rating and increased their price objective for the company from $10.60 to $10.70 in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Cemex SAB de CV currently has a consensus rating of “Buy” and an average target price of $10.87.
Shares of Cemex SAB de CV (CX) traded up $0.09 on Tuesday, reaching $8.03. 10,315,334 shares of the company’s stock were exchanged, compared to its average volume of 10,850,000. The stock has a market capitalization of $11,710.00, a PE ratio of 14.34, a PEG ratio of 0.96 and a beta of 1.32. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 0.88. Cemex SAB de CV has a twelve month low of $7.09 and a twelve month high of $10.37.
Cemex SAB de CV (NYSE:CX) last announced its quarterly earnings data on Thursday, October 26th. The construction company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Cemex SAB de CV had a return on equity of 8.71% and a net margin of 8.38%. sell-side analysts forecast that Cemex SAB de CV will post 0.52 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC purchased a new stake in shares of Cemex SAB de CV in the second quarter worth $100,000. Institute for Wealth Management LLC. purchased a new stake in shares of Cemex SAB de CV in the second quarter worth $115,000. Raymond James Trust N.A. purchased a new stake in shares of Cemex SAB de CV in the third quarter worth $141,000. Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in shares of Cemex SAB de CV in the third quarter worth $156,000. Finally, First Allied Advisory Services Inc. increased its stake in shares of Cemex SAB de CV by 4.8% in the second quarter. First Allied Advisory Services Inc. now owns 18,812 shares of the construction company’s stock worth $175,000 after purchasing an additional 864 shares in the last quarter. 40.36% of the stock is owned by hedge funds and other institutional investors.
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Cemex SAB de CV Company Profile
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.
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