JPMorgan Chase & Co. Trims CEMEX (NYSE:CX) Target Price to $8.50

CEMEX (NYSE:CX) had its price objective decreased by JPMorgan Chase & Co. from $9.50 to $8.50 in a research report sent to investors on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group lifted their price target on CEMEX from $9.00 to $10.00 and gave the stock a buy rating in a research report on Friday, April 26th. StockNews.com upgraded CEMEX from a buy rating to a strong-buy rating in a research note on Friday, April 26th. Royal Bank of Canada began coverage on CEMEX in a research note on Tuesday, May 14th. They issued an underperform rating and a $9.00 target price on the stock. Finally, Bank of America downgraded CEMEX from a buy rating to a neutral rating and set a $9.00 target price on the stock. in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $9.24.

CEMEX Trading Up 6.5 %

CX opened at $6.68 on Monday. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 47.71 and a beta of 1.47. CEMEX has a 52 week low of $5.67 and a 52 week high of $9.27. The business’s 50 day moving average is $7.04 and its two-hundred day moving average is $7.75. 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 (NYSE:CX) last released its quarterly earnings results on Monday, April 29th. The construction company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company 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 period last year, the firm earned $0.15 EPS. On average, research analysts predict that CEMEX will post 0.88 EPS for the current year.

CEMEX Dividend Announcement

The firm also recently declared a Variable dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were paid a $0.349 dividend. The ex-dividend date was Monday, June 17th. CEMEX’s dividend payout ratio (DPR) is presently 14.29%.

Institutional Trading of CEMEX

Institutional investors have recently modified their holdings of the business. Cetera Advisors LLC purchased a new stake in CEMEX during the first quarter worth $130,000. Blackstone Inc. acquired a new position in shares of CEMEX in the first quarter worth $7,658,000. Beck Capital Management LLC increased its stake in CEMEX by 1.0% in the first quarter. Beck Capital Management LLC now owns 403,811 shares of the construction company’s stock valued at $3,638,000 after purchasing an additional 4,073 shares during the last quarter. 1832 Asset Management L.P. increased its stake in CEMEX by 16.6% in the first quarter. 1832 Asset Management L.P. now owns 23,000 shares of the construction company’s stock valued at $207,000 after purchasing an additional 3,270 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in CEMEX in the first quarter valued at $1,090,000. 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.