CEMEX (NYSE:CX) Rating Increased to Hold at Zacks Investment Research

CEMEX (NYSE:CXGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

CX has been the subject of a number of other reports. StockNews.com upgraded shares of CEMEX from a “hold” rating to a “buy” rating in a report on Wednesday, April 20th. Credit Suisse Group upgraded shares of CEMEX from a “neutral” rating to an “outperform” rating and set a $6.70 target price for the company in a report on Wednesday, April 20th. TheStreet downgraded shares of CEMEX from a “b-” rating to a “c+” rating in a report on Wednesday, April 27th. Finally, The Goldman Sachs Group downgraded shares of CEMEX from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $9.20 to $6.00 in a report on Monday, April 4th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.68.

Shares of CX traded down $0.21 during trading hours on Wednesday, reaching $4.46. 8,269,915 shares of the company traded hands, compared to its average volume of 8,530,648. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 0.63 and a beta of 1.35. CEMEX has a 12-month low of $3.82 and a 12-month high of $9.09. The company has a current ratio of 0.79, a quick ratio of 0.55 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average price is $4.58 and its 200 day moving average price is $5.47.

CEMEX (NYSE:CXGet Rating) last issued its earnings results on Thursday, April 28th. The construction company reported $0.13 earnings per share (EPS) for the quarter. CEMEX had a net margin of 1.97% and a return on equity of 3.38%. The firm had revenue of $3.77 billion during the quarter. On average, research analysts forecast that CEMEX will post 0.59 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. boosted its position in CEMEX by 329.8% in the 4th quarter. Itau Unibanco Holding S.A. now owns 17,099,973 shares of the construction company’s stock worth $112,524,000 after purchasing an additional 13,121,053 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in CEMEX in the 4th quarter worth approximately $74,910,000. TT International Asset Management LTD boosted its position in CEMEX by 36.2% in the 3rd quarter. TT International Asset Management LTD now owns 26,530,863 shares of the construction company’s stock worth $190,226,000 after purchasing an additional 7,050,524 shares in the last quarter. Brandes Investment Partners LP boosted its position in CEMEX by 19.2% in the 1st quarter. Brandes Investment Partners LP now owns 31,299,106 shares of the construction company’s stock worth $165,573,000 after purchasing an additional 5,039,146 shares in the last quarter. Finally, Morgan Stanley boosted its position in CEMEX by 90.6% in the 2nd 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 in the last quarter. Institutional investors own 33.42% of the company’s stock.

CEMEX Company Profile (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.

Further Reading

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