CEMEX (NYSE:CX) Price Target Cut to $6.00 by Analysts at Royal Bank of Canada

CEMEX (NYSE:CX - Free Report) had its price target trimmed by Royal Bank of Canada from $6.50 to $6.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a sector perform rating on the construction company's stock.

A number of other brokerages have also commented on CX. JPMorgan Chase & Co. lowered CEMEX from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $7.00 to $6.00 in a research report on Tuesday. Barclays decreased their price objective on CEMEX from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Tuesday. The Goldman Sachs Group began coverage on CEMEX in a report on Wednesday, July 10th. They issued a "buy" rating and a $9.00 target price on the stock. Scotiabank decreased their price target on shares of CEMEX from $10.00 to $8.90 and set a "sector outperform" rating for the company in a research note on Tuesday. Finally, StockNews.com lowered shares of CEMEX from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, CEMEX presently has an average rating of "Moderate Buy" and a consensus price target of $7.87.

CEMEX Trading Down 3.8 %

Shares of CEMEX stock traded down $0.21 on Tuesday, reaching $5.25. 11,958,950 shares of the company's stock were exchanged, compared to its average volume of 8,536,219. The company has a market capitalization of $7.61 billion, a P/E ratio of 37.50 and a beta of 1.47. CEMEX has a 52 week low of $5.21 and a 52 week high of $9.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.65 and a current ratio of 0.90. The firm's 50-day moving average is $6.06 and its two-hundred day moving average is $6.69.

CEMEX Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were given a $0.021 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, September 13th. CEMEX's payout ratio is currently 28.57%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its position in shares of CEMEX by 8.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company's stock valued at $60,327,000 after acquiring an additional 807,394 shares during the last quarter. GFS Advisors LLC grew its stake in CEMEX by 1,505.0% in the 3rd quarter. GFS Advisors LLC now owns 166,427 shares of the construction company's stock valued at $1,015,000 after purchasing an additional 156,058 shares during the period. Allworth Financial LP grew its stake in CEMEX by 36.0% in 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. Legacy Wealth Asset Management LLC increased its position in shares of CEMEX by 3.6% during the 3rd 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 during the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of CEMEX by 14.5% during the 3rd quarter. Ballentine Partners LLC now owns 29,736 shares of the construction company's stock worth $181,000 after purchasing an additional 3,777 shares during the period. 82.97% of the stock is owned by institutional investors.

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.