The Goldman Sachs Group Raises CEMEX (NYSE:CX) Price Target to $10.00

CEMEX (NYSE:CX) had its price objective lifted by The Goldman Sachs Group from $9.00 to $10.00 in a research report report published on Friday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

Several other analysts have also issued reports on CX. Barclays lowered CEMEX from an overweight rating to an equal weight rating and set a $9.00 price objective for the company. in a report on Friday, February 9th. Bank of America cut CEMEX from a buy rating to a neutral rating and set a $9.00 price target for the company. in a research report on Wednesday, April 24th. Finally, StockNews.com cut CEMEX from a strong-buy rating to a buy rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $9.53.

CEMEX Price Performance

Shares of NYSE:CX opened at $8.27 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. CEMEX has a 1 year low of $5.67 and a 1 year high of $9.27. The business has a fifty day simple moving average of $8.32 and a 200 day simple moving average of $7.65. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 59.07, a P/E/G ratio of 0.17 and a beta of 1.47.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) earnings per share (EPS) for the quarter. CEMEX had a return on equity of 1.81% and a net margin of 1.28%. The firm had revenue of $4.24 billion for the quarter. As a group, sell-side analysts predict that CEMEX will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of CEMEX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors lifted its position in shares of CEMEX by 0.5% in the fourth quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock worth $217,024,000 after buying an additional 152,587 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of CEMEX by 7.9% during the 4th quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock worth $161,462,000 after purchasing an additional 1,521,007 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of CEMEX by 41.4% during the 3rd quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock worth $122,996,000 after purchasing an additional 5,542,723 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of CEMEX by 17.6% during the 4th quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock worth $76,262,000 after purchasing an additional 1,471,407 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of CEMEX by 3.4% during the 3rd quarter. American Century Companies Inc. now owns 9,744,804 shares of the construction company’s stock worth $63,341,000 after purchasing an additional 318,541 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

About CEMEX

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 and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.