Royal Bank of Canada Has Lowered Expectations for CEMEX (NYSE:CX) Stock Price

CEMEX (NYSE:CX - Free Report) had its target price lowered by Royal Bank of Canada from $6.00 to $5.00 in a report issued on Monday,Benzinga reports. Royal Bank of Canada currently has an underperform rating on the construction company's stock.

Several other equities research analysts have also weighed in on CX. Morgan Stanley lowered CEMEX from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, March 26th. StockNews.com lowered shares of CEMEX from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group upped their price objective on shares of CEMEX from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $7.63.

CEMEX Price Performance

NYSE:CX traded up $0.21 during mid-day trading on Monday, reaching $5.41. 10,945,853 shares of the stock were exchanged, compared to its average volume of 10,562,059. CEMEX has a 1-year low of $4.89 and a 1-year high of $8.35. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $7.83 billion, a PE ratio of 8.58 and a beta of 1.28. The business has a fifty day moving average price of $5.95 and a 200 day moving average price of $5.80.

CEMEX (NYSE:CX - Get Free Report) last released its earnings results on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. Research analysts expect that CEMEX will post 0.69 earnings per share for the current fiscal year.

CEMEX Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were given a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX's dividend payout ratio is 12.70%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc lifted its position in shares of CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock worth $28,000 after purchasing an additional 3,062 shares during the last quarter. Barclays PLC grew its position in CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company's stock worth $38,000 after buying an additional 1,843 shares in the last quarter. Townsquare Capital LLC bought a new position in CEMEX during the fourth quarter valued at about $57,000. Dark Forest Capital Management LP acquired a new position in CEMEX in the 4th quarter valued at approximately $59,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of CEMEX in the 4th quarter worth approximately $59,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.