Cemex SAB de CV (CX) Rating Increased to Hold at Zacks Investment Research

Cemex SAB de CV (NYSE:CX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, November 15th.

According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “

A number of other brokerages have also issued reports on CX. Berenberg Bank reaffirmed a “hold” rating and set a $8.40 price target on shares of Cemex SAB de CV in a research note on Thursday, July 27th. ValuEngine lowered Cemex SAB de CV from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. BidaskClub lowered Cemex SAB de CV from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. J P Morgan Chase & Co reduced their price objective on Cemex SAB de CV from $11.20 to $10.60 and set an “overweight” rating for the company in a research note on Monday, October 30th. Finally, Citigroup raised Cemex SAB de CV from a “sell” rating to a “neutral” rating and set a $9.00 price objective for the company in a research note on Monday, October 23rd. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.76.

Cemex SAB de CV (NYSE:CX) traded down $0.07 on Wednesday, reaching $7.44. The company had a trading volume of 12,163,748 shares, compared to its average volume of 9,713,802. Cemex SAB de CV has a 12-month low of $7.41 and a 12-month high of $10.37. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 0.88. The firm has a market cap of $10,900.00, a PE ratio of 11.75, a P/E/G ratio of 0.85 and a beta of 1.31.

Cemex SAB de CV (NYSE:CX) last posted its earnings results on Thursday, October 26th. The construction company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Cemex SAB de CV had a net margin of 8.38% and a return on equity of 8.71%. equities analysts predict that Cemex SAB de CV will post 0.56 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in CX. Boston Partners raised its holdings in shares of Cemex SAB de CV by 237.6% during the third quarter. Boston Partners now owns 47,249,853 shares of the construction company’s stock worth $429,028,000 after acquiring an additional 33,254,975 shares in the last quarter. Dodge & Cox raised its holdings in shares of Cemex SAB de CV by 13.9% during the second quarter. Dodge & Cox now owns 71,865,916 shares of the construction company’s stock worth $676,977,000 after acquiring an additional 8,781,290 shares in the last quarter. Investec Asset Management LTD purchased a new stake in shares of Cemex SAB de CV during the second quarter worth $80,758,000. Lazard Asset Management LLC raised its holdings in Cemex SAB de CV by 4,464.4% during the second quarter. Lazard Asset Management LLC now owns 6,150,276 shares of the construction company’s stock valued at $57,934,000 after buying an additional 6,015,533 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Cemex SAB de CV by 16.8% during the second quarter. Acadian Asset Management LLC now owns 31,336,598 shares of the construction company’s stock valued at $295,194,000 after buying an additional 4,516,076 shares in the last quarter. Institutional investors and hedge funds own 40.44% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/12/04/zacks-investment-research-upgrades-cemex-s-a-b-de-c-v-cx-to-hold.html.

Cemex SAB de CV Company Profile

CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in over 50 countries throughout the world.

Get a free copy of the Zacks research report on Cemex SAB de CV (CX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cemex SAB de CV (NYSE:CX)

Receive News & Ratings for Cemex SAB de CV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemex SAB de CV and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply