Brokerages Set CEMEX, S.A.B. de C.V. (NYSE:CX) PT at $7.65

CEMEX, S.A.B. de C.V. (NYSE:CX) has earned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $7.65.

Several brokerages have recently weighed in on CX. StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. 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. Royal Bank of Canada lowered CEMEX from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $6.00 to $5.00 in a research note on Wednesday, December 11th. Barclays reduced their target price on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $6.00 in a report on Tuesday, October 29th.

Institutional Trading of CEMEX

Institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in shares of CEMEX by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 433,336 shares of the construction company’s stock worth $2,769,000 after buying an additional 9,281 shares during the last quarter. Pacer Advisors Inc. purchased a new position in CEMEX in the 2nd quarter worth $776,000. 1832 Asset Management L.P. lifted its position in CEMEX by 13.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 26,200 shares of the construction company’s stock worth $167,000 after acquiring an additional 3,200 shares during the period. Bank of Montreal Can grew its stake in CEMEX by 227.4% during the 2nd quarter. Bank of Montreal Can now owns 135,515 shares of the construction company’s stock valued at $867,000 after purchasing an additional 94,118 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of CEMEX by 28.4% in the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after purchasing an additional 4,217,562 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

CEMEX Stock Performance

Shares of CEMEX stock opened at $5.84 on Friday. CEMEX has a 12 month low of $5.00 and a 12 month high of $9.27. The stock’s fifty day moving average price is $5.62 and its 200-day moving average price is $5.90. The firm has a market cap of $8.46 billion, a P/E ratio of 19.45 and a beta of 1.49. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49.

CEMEX Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.0207 per share. The ex-dividend date was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is currently 20.00%.

About CEMEX

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.