CEMEX, S.A.B. de C.V. (NYSE:CX) Short Interest Update

CEMEX, S.A.B. de C.V. (NYSE:CX) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 11,610,000 shares, a growth of 46.2% from the May 31st total of 7,940,000 shares. Based on an average daily volume of 7,060,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CX. Bank of America cut CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research report on Wednesday, April 24th. The Goldman Sachs Group increased their price target on CEMEX from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, April 26th. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada assumed coverage on CEMEX in a research note on Tuesday, May 14th. They set an “underperform” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CEMEX has an average rating of “Moderate Buy” and a consensus target price of $9.46.

CEMEX Stock Down 1.7 %

Shares of CEMEX stock traded down $0.11 during midday trading on Monday, hitting $6.28. The company’s stock had a trading volume of 1,869,502 shares, compared to its average volume of 6,664,050. The firm has a market capitalization of $9.10 billion, a P/E ratio of 45.64 and a beta of 1.47. The stock has a 50-day simple moving average of $7.34 and a 200-day simple moving average of $7.84. 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 1-year low of $5.67 and a 1-year high of $9.27.

CEMEX (NYSE:CX) 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. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. The business had revenue of $4.14 billion during the quarter. During the same quarter in the prior year, the business posted $0.15 earnings per share. As a group, sell-side analysts expect that CEMEX will post 0.87 earnings per share for the current year.

CEMEX Announces Dividend

The company also recently disclosed a Variable dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were issued a dividend of $0.349 per share. The ex-dividend date of this dividend was Monday, June 17th. CEMEX’s dividend payout ratio is 14.29%.

Institutional Trading of CEMEX

Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Financial Designs Inc. ADV bought a new position in CEMEX during the fourth quarter valued at about $26,000. CWM LLC raised its holdings in CEMEX by 75.0% during the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after buying an additional 1,506 shares in the last quarter. Blue Trust Inc. raised its holdings in CEMEX by 65.0% during the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock valued at $41,000 after buying an additional 2,062 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in CEMEX by 40.6% during the third quarter. PNC Financial Services Group Inc. now owns 8,501 shares of the construction company’s stock valued at $55,000 after buying an additional 2,454 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of CEMEX in the third quarter worth about $70,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.