CEMEX, S.A.B. de C.V. (NYSE:CX) Receives $7.82 Consensus Target Price from Analysts

CEMEX, S.A.B. de C.V. (NYSE:CX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $7.82.

CX has been the topic of several recent research reports. Barclays cut their target price on CEMEX from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Scotiabank decreased their price objective on shares of CEMEX from $10.00 to $8.90 and set a "sector outperform" rating for the company in a report on Tuesday, October 29th. Royal Bank of Canada reduced their price objective on CEMEX from $6.50 to $6.00 and set a "sector perform" rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of CEMEX from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $7.00 to $6.00 in a research note on Tuesday, October 29th. Finally, StockNews.com downgraded shares of CEMEX from a "strong-buy" rating to a "buy" rating in a report on Friday, October 11th.

CEMEX Stock Down 3.1 %

NYSE CX traded down $0.19 during trading on Friday, reaching $5.89. 15,363,670 shares of the company's stock were exchanged, compared to its average volume of 11,732,634. The firm has a market capitalization of $8.54 billion, a PE ratio of 19.63 and a beta of 1.49. CEMEX has a fifty-two week low of $5.00 and a fifty-two week high of $9.27. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The company's fifty day simple moving average is $5.91 and its 200-day simple moving average is $6.52.

CEMEX Cuts Dividend

The firm also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were given a dividend of $0.021 per share. The ex-dividend date was Friday, September 13th. This represents a yield of 0.7%. CEMEX's dividend payout ratio (DPR) is presently 13.33%.

Institutional Investors Weigh In On CEMEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position 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 purchasing an additional 1,747 shares during the period. Atomi Financial Group Inc. lifted its holdings in CEMEX by 7.1% in the first quarter. Atomi Financial Group Inc. now owns 33,700 shares of the construction company's stock valued at $304,000 after buying an additional 2,241 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in 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 acquiring an additional 2,654 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in CEMEX by 2.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 132,972 shares of the construction company's stock worth $1,198,000 after acquiring an additional 3,200 shares during the period. Finally, 1832 Asset Management L.P. raised its position in shares of CEMEX by 13.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 26,200 shares of the construction company's stock valued at $167,000 after acquiring an additional 3,200 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.