CEMEX, S.A.B. de C.V. (NYSE:CX - Get Free Report)'s share price was up 7.9% on Thursday following a stronger than expected earnings report. The stock traded as high as $6.50 and last traded at $6.46. Approximately 4,352,017 shares were traded during trading, a decline of 55% from the average daily volume of 9,718,613 shares. The stock had previously closed at $5.98.
The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.82%.
CEMEX Dividend Announcement
The business also recently announced a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.0207 per share. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX's dividend payout ratio is presently 9.52%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on CX shares. Barclays cut their price objective on CEMEX from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Scotiabank cut their price target on CEMEX from $10.00 to $8.90 and set a "sector outperform" rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut shares of CEMEX from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $7.00 to $6.00 in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada boosted their target price on shares of CEMEX from $5.00 to $6.00 and gave the company an "underperform" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $7.82.
Check Out Our Latest Analysis on CX
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in CX. Allworth Financial LP grew its holdings in CEMEX by 36.0% during the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company's stock valued at $40,000 after buying an additional 1,747 shares in the last quarter. Barclays PLC boosted its position in shares of CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company's stock valued at $38,000 after acquiring an additional 1,843 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of CEMEX by 3.6% in the third quarter. Legacy Wealth Asset Management LLC now owns 75,949 shares of the construction company's stock valued at $463,000 after purchasing an additional 2,654 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in CEMEX by 26.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company's stock worth $73,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Holistic Financial Partners raised its stake in CEMEX by 25.0% during the fourth quarter. Holistic Financial Partners now owns 13,933 shares of the construction company's stock valued at $79,000 after purchasing an additional 2,787 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.
CEMEX Stock Down 0.7 %
The company's 50-day simple moving average is $5.73 and its 200 day simple moving average is $5.88. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. The firm has a market cap of $9.63 billion, a P/E ratio of 10.55 and a beta of 1.49.
CEMEX Company Profile
(
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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.
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