CEMEX (NYSE:CX) Downgraded by StockNews.com to Hold

CEMEX (NYSE:CX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

CX has been the topic of several other reports. Royal Bank of Canada raised their target price on CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a report on Monday, February 10th. The Goldman Sachs Group upped their target price on shares of CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.82.

CEMEX Trading Down 0.5 %

CX stock traded down $0.03 during midday trading on Tuesday, reaching $5.09. 37,181,798 shares of the company’s stock traded hands, compared to its average volume of 10,170,640. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. CEMEX has a fifty-two week low of $4.93 and a fifty-two week high of $9.00. The business has a 50-day moving average price of $6.11 and a two-hundred day moving average price of $5.85. The company has a market capitalization of $7.37 billion, a P/E ratio of 8.07 and a beta of 1.28.

CEMEX (NYSE:CX) last posted its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share 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%. Equities research analysts forecast that CEMEX will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On CEMEX

Hedge funds have recently bought and sold shares of the company. Dodge & Cox lifted its stake in CEMEX by 7,200.6% during the fourth quarter. Dodge & Cox now owns 49,622,009 shares of the construction company’s stock worth $279,868,000 after purchasing an additional 48,942,309 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of CEMEX by 745.6% in the 4th quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company’s stock worth $150,809,000 after buying an additional 23,576,914 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of CEMEX during the 4th quarter valued at about $86,056,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in CEMEX by 30.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,745,819 shares of the construction company’s stock worth $229,806,000 after acquiring an additional 9,541,622 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in CEMEX by 123.7% in the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock worth $88,093,000 after acquiring an additional 7,986,204 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.