CEMEX (NYSE:CX) Trading 5.9% Higher

CEMEX, S.A.B. de C.V. (NYSE:CX) shares traded up 5.9% during trading on Wednesday . The company traded as high as $6.66 and last traded at $6.64. 11,839,612 shares were traded during trading, an increase of 77% from the average session volume of 6,698,664 shares. The stock had previously closed at $6.27.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. The Goldman Sachs Group assumed coverage on shares of CEMEX in a research report on Wednesday. They set a “buy” rating and a $9.00 price target for the company. Bank of America lowered shares of CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a research report on Wednesday, April 24th. Royal Bank of Canada started coverage on shares of CEMEX in a research report on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of CEMEX from $9.50 to $8.50 and set an “overweight” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.24.

CEMEX Price Performance

The company has a debt-to-equity ratio of 0.54, a current ratio of 0.78 and a quick ratio of 0.51. The firm has a market capitalization of $9.98 billion, a P/E ratio of 49.14 and a beta of 1.47. The firm’s 50 day simple moving average is $7.02 and its two-hundred day simple moving average is $7.74.

CEMEX (NYSE:CX) last posted its quarterly earnings results on Monday, April 29th. The construction company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $4.14 billion during the quarter. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. During the same period in the prior year, the firm earned $0.15 earnings per share. As a group, analysts predict that CEMEX, S.A.B. de C.V. will post 0.85 earnings per share for the current year.

CEMEX Dividend Announcement

The firm also recently declared a Variable dividend, which was paid on Wednesday, June 26th. Shareholders 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 is presently 14.29%.

Hedge Funds Weigh In On CEMEX

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Advisors LLC bought a new position in shares of CEMEX during the first quarter valued at about $130,000. Blackstone Inc. bought a new position in shares of CEMEX during the first quarter valued at about $7,658,000. Beck Capital Management LLC raised 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 worth $3,638,000 after buying an additional 4,073 shares in the last quarter. 1832 Asset Management L.P. raised 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 worth $207,000 after buying an additional 3,270 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in CEMEX in the first quarter worth about $1,090,000. 82.97% of the stock is owned by 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.