Royal Bank of Canada Initiates Coverage on CEMEX (NYSE:CX)

Investment analysts at Royal Bank of Canada assumed coverage on shares of CEMEX (NYSE:CXGet Free Report) in a research report issued on Tuesday, Briefing.com reports. The brokerage set an “underperform” rating and a $9.00 price target on the construction company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 13.14% from the stock’s current price.

CX has been the subject of a number of other reports. Bank of America downgraded CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Wednesday, April 24th. StockNews.com raised shares of CEMEX from a “buy” rating to a “strong-buy” rating in a report on Friday, April 26th. The Goldman Sachs Group boosted their target price on shares of CEMEX from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Barclays lowered shares of CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price target on the stock. in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.46.

Get Our Latest Analysis on CEMEX

CEMEX Stock Performance

Shares of NYSE CX opened at $7.96 on Tuesday. The stock has a market capitalization of $11.53 billion, a P/E ratio of 56.82, a PEG ratio of 0.16 and a beta of 1.50. The stock’s 50 day moving average price is $8.33 and its two-hundred day moving average price is $7.79. The company has a quick ratio of 0.51, a current ratio of 0.78 and a debt-to-equity ratio of 0.54. CEMEX has a 52-week low of $5.67 and a 52-week high of $9.27.

CEMEX (NYSE:CXGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The construction company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $4.14 billion for the quarter. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. During the same quarter last year, the business earned $0.15 earnings per share. On average, analysts anticipate that CEMEX will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CEMEX

Several large investors have recently made changes to their positions in CX. Acadian Asset Management LLC boosted its position in shares of CEMEX by 41.4% in the 3rd quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock valued at $122,996,000 after purchasing an additional 5,542,723 shares during the period. AQR Capital Management LLC lifted its position in shares of CEMEX by 35.5% in the 3rd quarter. AQR Capital Management LLC now owns 9,684,043 shares of the construction company’s stock valued at $62,946,000 after acquiring an additional 2,535,112 shares in the last quarter. Sei Investments Co. boosted its stake in CEMEX by 146.8% in the 3rd quarter. Sei Investments Co. now owns 3,010,503 shares of the construction company’s stock worth $19,568,000 after purchasing an additional 1,790,588 shares during the period. Qube Research & Technologies Ltd raised its stake in CEMEX by 701.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,848,325 shares of the construction company’s stock valued at $12,014,000 after purchasing an additional 1,617,750 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of CEMEX by 7.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock worth $161,462,000 after buying an additional 1,521,007 shares during the period. Institutional investors own 82.97% of the company’s stock.

About CEMEX

(Get Free Report)

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.

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Analyst Recommendations for CEMEX (NYSE:CX)

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