Cemex (NYSE:CX)‘s stock had its “overweight” rating reaffirmed by investment analysts at JPMorgan Chase in a research note issued to investors on Wednesday, March 14th. They presently have a $10.00 price objective on the construction company’s stock, down from their previous price objective of $10.60. JPMorgan Chase’s price objective suggests a potential upside of 45.56% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Bank of America cut their price target on Cemex from $8.70 to $8.00 and set a “neutral” rating for the company in a report on Monday, March 5th. ValuEngine cut Cemex from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. UBS downgraded Cemex from a “buy” rating to a “sell” rating and lowered their price objective for the company from $7.62 to $6.50 in a research report on Thursday, February 15th. Zacks Investment Research raised Cemex from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Citigroup raised Cemex from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $8.82.
Shares of Cemex stock traded down $0.01 during trading on Wednesday, reaching $6.87. The company’s stock had a trading volume of 6,949,388 shares, compared to its average volume of 10,803,215. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.64 and a quick ratio of 0.47. Cemex has a 12-month low of $6.43 and a 12-month high of $10.37. The company has a market cap of $10,032.04, a PE ratio of 16.76, a price-to-earnings-growth ratio of 0.64 and a beta of 1.37.
Cemex (NYSE:CX) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $3.42 billion for the quarter. Cemex had a return on equity of 5.85% and a net margin of 5.91%. equities research analysts anticipate that Cemex will post 0.62 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in shares of Cemex in the third quarter worth about $156,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Cemex in the fourth quarter worth about $132,000. Stevens Capital Management LP purchased a new stake in shares of Cemex in the third quarter worth about $197,000. Advisor Group Inc. boosted its position in shares of Cemex by 46.9% in the fourth quarter. Advisor Group Inc. now owns 22,809 shares of the construction company’s stock worth $171,000 after buying an additional 7,283 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Cemex in the fourth quarter worth about $220,000. 36.90% of the stock is owned by hedge funds and other institutional investors.
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CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
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