Cemex SAB de CV (CX) Rating Lowered to Sell at Zacks Investment Research

Cemex SAB de CV (NYSE:CX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, December 19th.

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. “

Several other equities research analysts also recently issued reports on CX. Bank of America downgraded Cemex SAB de CV from a “buy” rating to a “neutral” rating and raised their price target for the company from $10.60 to $10.70 in a research report on Tuesday, August 29th. ValuEngine cut shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Citigroup upgraded shares of Cemex SAB de CV from a “sell” rating to a “neutral” rating and set a $9.00 target price for the company in a research note on Monday, October 23rd. JPMorgan Chase & Co. reduced their target price on shares of 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, Santander cut shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $10.87.

Cemex SAB de CV (NYSE:CX) traded up $0.09 during trading on Tuesday, reaching $8.03. 10,322,034 shares of the company’s stock traded hands, compared to its average volume of 10,850,000. The firm has a market capitalization of $11,710.00, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 0.96 and a beta of 1.32. Cemex SAB de CV has a 52-week low of $7.09 and a 52-week high of $10.37. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.74 and a quick ratio of 0.54.

Cemex SAB de CV (NYSE:CX) last issued its quarterly earnings results on Thursday, October 26th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 research analysts forecast that Cemex SAB de CV will post 0.52 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Allied Advisory Services Inc. lifted its stake in Cemex SAB de CV by 4.8% during the second quarter. First Allied Advisory Services Inc. now owns 18,812 shares of the construction company’s stock worth $175,000 after purchasing an additional 864 shares during the period. HPM Partners LLC raised its stake in shares of Cemex SAB de CV by 4.0% in the second quarter. HPM Partners LLC now owns 26,275 shares of the construction company’s stock valued at $248,000 after acquiring an additional 1,010 shares during the last quarter. FCA Corp TX raised its stake in shares of Cemex SAB de CV by 4.0% in the second quarter. FCA Corp TX now owns 28,775 shares of the construction company’s stock valued at $271,000 after acquiring an additional 1,106 shares during the last quarter. River & Mercantile Asset Management LLP raised its stake in shares of Cemex SAB de CV by 0.3% in the second quarter. River & Mercantile Asset Management LLP now owns 483,132 shares of the construction company’s stock valued at $4,554,000 after acquiring an additional 1,227 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its stake in shares of Cemex SAB de CV by 5.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 25,456 shares of the construction company’s stock valued at $240,000 after acquiring an additional 1,267 shares during the last quarter. Hedge funds and other institutional investors own 40.36% of the company’s stock.

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About Cemex SAB de CV

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.

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