CEMEX (NYSE:CX) Shares Up 4.2% – Still a Buy?

CEMEX, S.A.B. de C.V. (NYSE:CX) was up 4.2% during trading on Tuesday . The company traded as high as $6.30 and last traded at $6.32. Approximately 3,967,988 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 9,585,225 shares. The stock had previously closed at $6.06.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Royal Bank of Canada upped their price target on shares of CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.82.

CEMEX Price Performance

The stock has a market cap of $9.11 billion, a P/E ratio of 9.98 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. The business’s fifty day moving average price is $6.12 and its 200 day moving average price is $5.88.

CEMEX (NYSE:CX) last issued its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. Sell-side analysts forecast that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

CEMEX Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were issued a dividend of $0.0207 per share. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s dividend payout ratio (DPR) is 12.70%.

Hedge Funds Weigh In On CEMEX

Institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc grew its holdings in shares of CEMEX by 159.1% during the fourth 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 boosted its position in CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after buying an additional 1,843 shares during the period. Townsquare Capital LLC bought a new stake in CEMEX during the 4th quarter worth approximately $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 position in shares of CEMEX during the fourth quarter valued at $59,000. 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.