The Goldman Sachs Group Issues Positive Forecast for CEMEX (NYSE:CX) Stock Price

CEMEX (NYSE:CX) had its price objective increased by The Goldman Sachs Group from $8.00 to $9.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Separately, Royal Bank of Canada lifted their price target on CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.82.

CEMEX Stock Performance

NYSE:CX opened at $6.31 on Thursday. The firm has a market capitalization of $9.14 billion, a PE ratio of 10.01 and a beta of 1.49. CEMEX has a 1 year low of $5.00 and a 1 year high of $9.27. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $5.97 and its 200 day simple moving average is $5.91.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. On average, sell-side analysts anticipate that CEMEX will post 0.69 EPS for the current year.

Institutional Investors Weigh In On CEMEX

Institutional investors have recently added to or reduced their stakes in the company. Dodge & Cox lifted its position in shares of CEMEX by 7,200.6% in the 4th quarter. Dodge & Cox now owns 49,622,009 shares of the construction company’s stock worth $279,868,000 after acquiring an additional 48,942,309 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of CEMEX in the third quarter valued at $190,346,000. Schroder Investment Management Group lifted its position in CEMEX by 745.6% in the fourth quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company’s stock worth $150,809,000 after purchasing an additional 23,576,914 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in CEMEX during the fourth quarter worth $86,056,000. Finally, JPMorgan Chase & Co. increased its holdings in CEMEX by 123.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock valued at $88,093,000 after buying an additional 7,986,204 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

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.