CEMEX (NYSE:CX) Hits New 1-Year Low - What's Next?

CEMEX, S.A.B. de C.V. (NYSE:CX - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $5.45 and last traded at $5.47, with a volume of 3211456 shares trading hands. The stock had previously closed at $5.98.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CX. StockNews.com downgraded CEMEX from a "strong-buy" rating to a "buy" rating in a report on Friday, October 11th. JPMorgan Chase & Co. cut their price target on shares of CEMEX from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Barclays raised CEMEX from an "equal weight" rating to an "overweight" rating and set a $9.00 target price for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on CEMEX in a research report on Wednesday, July 10th. They set a "buy" rating and a $9.00 price target on the stock. Finally, Royal Bank of Canada upgraded shares of CEMEX from an "underperform" rating to a "sector perform" rating and dropped their target price for the stock from $9.00 to $6.50 in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.12.

CEMEX Stock Down 8.7 %

The stock's fifty day simple moving average is $6.08 and its 200-day simple moving average is $6.71. The stock has a market cap of $7.91 billion, a P/E ratio of 38.50 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.65 and a current ratio of 0.90.

CEMEX (NYSE:CX - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 EPS for the quarter. The business had revenue of $4.49 billion during the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. As a group, research analysts forecast that CEMEX, S.A.B. de C.V. will post 0.79 earnings per share for the current fiscal year.

CEMEX Cuts Dividend

The firm also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were issued a $0.021 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX's dividend payout ratio is presently 28.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of CEMEX by 76.4% during the fourth quarter. Wellington Management Group LLP now owns 444,262 shares of the construction company's stock worth $3,443,000 after purchasing an additional 192,399 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of CEMEX by 54.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,124 shares of the construction company's stock worth $102,000 after purchasing an additional 4,623 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in CEMEX in the first quarter valued at $102,000. Claro Advisors LLC raised its position in CEMEX by 6.9% during the 1st quarter. Claro Advisors LLC now owns 30,842 shares of the construction company's stock worth $278,000 after purchasing an additional 1,998 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in CEMEX by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company's stock worth $68,274,000 after buying an additional 94,790 shares during the period. Institutional investors own 82.97% of the company's stock.

CEMEX Company Profile

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.