A number of other equities analysts also recently commented on the stock. Royal Bank of Canada raised shares of CEMEX from an "underperform" rating to a "sector perform" rating and decreased their price objective for the stock from $9.00 to $6.50 in a report on Tuesday. The Goldman Sachs Group began coverage on shares of CEMEX in a report on Wednesday, July 10th. They issued a "buy" rating and a $9.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of CEMEX from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Barclays raised CEMEX from an "equal weight" rating to an "overweight" rating and set a $9.00 target price for the company in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, CEMEX presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.12.
Read Our Latest Stock Report on CX
Shares of CEMEX stock traded down $0.02 during trading hours on Friday, hitting $6.15. 11,942,476 shares of the company's stock traded hands, compared to its average volume of 8,458,995. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. CEMEX has a twelve month low of $5.50 and a twelve month high of $9.27. The stock has a 50 day simple moving average of $6.17 and a 200-day simple moving average of $6.95. The company has a market cap of $8.90 billion, a PE ratio of 51.21 and a beta of 1.47.
CEMEX (NYSE:CX - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. The business had revenue of $4.49 billion during the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. Equities research analysts anticipate that CEMEX will post 0.79 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of CX. Vanguard Group Inc. lifted its stake in CEMEX by 4.1% during the first quarter. Vanguard Group Inc. now owns 3,757,831 shares of the construction company's stock valued at $33,858,000 after buying an additional 146,327 shares in the last quarter. Wellington Management Group LLP boosted its stake in CEMEX by 76.4% in the 4th quarter. Wellington Management Group LLP now owns 444,262 shares of the construction company's stock worth $3,443,000 after purchasing an additional 192,399 shares during the period. BNP Paribas Financial Markets grew its position in CEMEX by 25.9% during the 1st quarter. BNP Paribas Financial Markets now owns 1,296,403 shares of the construction company's stock worth $11,681,000 after purchasing an additional 267,074 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in CEMEX during the 2nd quarter valued at $776,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of CEMEX in the first quarter worth $1,090,000. Institutional investors own 82.97% of the company's stock.
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.
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