CEMEX, S.A.B. de C.V. (NYSE:CX – Get Rating) has received a consensus recommendation of “Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.96.
Several research analysts recently weighed in on the stock. Credit Suisse Group upgraded shares of CEMEX from a “neutral” rating to an “outperform” rating and set a $6.70 price target on the stock in a report on Wednesday, April 20th. TheStreet cut shares of CEMEX from a “b-” rating to a “c+” rating in a report on Wednesday, April 27th. The Goldman Sachs Group cut shares of CEMEX from a “buy” rating to a “neutral” rating and cut their price target for the stock from $9.20 to $6.00 in a report on Monday, April 4th. StockNews.com upgraded shares of CEMEX from a “hold” rating to a “buy” rating in a report on Wednesday, April 20th. Finally, Zacks Investment Research raised shares of CEMEX from a “sell” rating to a “hold” rating in a research report on Thursday.
A number of hedge funds have recently modified their holdings of CX. FMR LLC lifted its stake in CEMEX by 27.9% during the first quarter. FMR LLC now owns 1,151,305 shares of the construction company’s stock worth $5,342,000 after purchasing an additional 251,428 shares during the last quarter. Morgan Stanley lifted its stake in CEMEX by 90.6% during the second quarter. Morgan Stanley now owns 6,400,637 shares of the construction company’s stock worth $53,765,000 after purchasing an additional 3,042,072 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in CEMEX by 998.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 7,943 shares of the construction company’s stock worth $57,000 after purchasing an additional 7,220 shares during the last quarter. Citigroup Inc. lifted its stake in shares of CEMEX by 1,176.9% in the 3rd quarter. Citigroup Inc. now owns 607,085 shares of the construction company’s stock valued at $4,354,000 after acquiring an additional 559,542 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of CEMEX by 216.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 46,853 shares of the construction company’s stock valued at $336,000 after acquiring an additional 32,025 shares during the last quarter. 33.42% of the stock is owned by hedge funds and other institutional investors.
CEMEX (NYSE:CX – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The construction company reported $0.13 earnings per share for the quarter. CEMEX had a net margin of 1.97% and a return on equity of 3.38%. The business had revenue of $3.77 billion for the quarter. As a group, equities research analysts anticipate that CEMEX will post 0.59 earnings per share for the current fiscal year.
About CEMEX (Get Rating)
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 worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
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