According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “
A number of other research analysts have also recently weighed in on CX. Santander cut Cemex SAB de CV from a buy rating to a hold rating in a research report on Monday, July 15th. HSBC cut Cemex SAB de CV from a buy rating to a hold rating in a research report on Wednesday. Finally, ValuEngine raised Cemex SAB de CV from a strong sell rating to a sell rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $6.75.
Cemex SAB de CV (NYSE:CX) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $0.06 earnings per share for the quarter. Cemex SAB de CV had a return on equity of 1.75% and a net margin of 2.37%. The firm had revenue of $3.52 billion for the quarter. As a group, equities analysts forecast that Cemex SAB de CV will post 0.31 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in CX. Virtus ETF Advisers LLC bought a new stake in Cemex SAB de CV in the 2nd quarter worth approximately $26,000. Golden State Wealth Management LLC increased its position in shares of Cemex SAB de CV by 121.9% during the 2nd quarter. Golden State Wealth Management LLC now owns 7,281 shares of the construction company’s stock valued at $30,000 after purchasing an additional 4,000 shares during the last quarter. Corient Capital Partners LLC bought a new position in shares of Cemex SAB de CV during the 1st quarter valued at approximately $47,000. Oppenheimer & Co. Inc. bought a new position in shares of Cemex SAB de CV during the 2nd quarter valued at approximately $62,000. Finally, QCM Cayman Ltd. bought a new position in shares of Cemex SAB de CV during the 1st quarter valued at approximately $72,000. 30.72% of the stock is currently owned by institutional investors and hedge funds.
About Cemex SAB de CV
CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
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