Cemex SAB de CV (NYSE:CX) Stock Rating Lowered by Zacks Investment Research

Cemex SAB de CV (NYSE:CX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, Zacks.com reports.

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. “

CX has been the subject of a number of other reports. HSBC downgraded Cemex SAB de CV from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. ValuEngine upgraded Cemex SAB de CV from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Santander downgraded Cemex SAB de CV from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Cemex SAB de CV presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Shares of NYSE CX traded down $0.05 during midday trading on Monday, reaching $3.70. 2,976,128 shares of the stock traded hands, compared to its average volume of 7,300,709. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.74 and a quick ratio of 0.53. The stock has a market capitalization of $5.57 billion, a PE ratio of 10.57, a P/E/G ratio of 0.76 and a beta of 1.44. Cemex SAB de CV has a one year low of $2.82 and a one year high of $6.53. The company’s 50 day moving average is $3.70 and its 200 day moving average is $4.09.

Cemex SAB de CV (NYSE:CX) last posted its earnings results on Thursday, July 25th. The construction company reported $0.06 EPS for the quarter. The firm had revenue of $3.52 billion during the quarter. Cemex SAB de CV had a return on equity of 1.75% and a net margin of 2.37%. As a group, equities analysts forecast that Cemex SAB de CV will post 0.31 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning lifted its position in Cemex SAB de CV by 9.8% in the second quarter. Creative Planning now owns 32,233 shares of the construction company’s stock worth $137,000 after buying an additional 2,883 shares during the last quarter. Altfest L J & Co. Inc. lifted its position in Cemex SAB de CV by 4.5% in the second quarter. Altfest L J & Co. Inc. now owns 66,859 shares of the construction company’s stock worth $283,000 after buying an additional 2,902 shares during the last quarter. Comerica Bank lifted its position in Cemex SAB de CV by 3.5% in the second quarter. Comerica Bank now owns 89,775 shares of the construction company’s stock worth $351,000 after buying an additional 3,036 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Cemex SAB de CV by 21.4% in the second quarter. Janney Montgomery Scott LLC now owns 21,372 shares of the construction company’s stock worth $91,000 after buying an additional 3,768 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in Cemex SAB de CV by 121.9% in the second quarter. Golden State Wealth Management LLC now owns 7,281 shares of the construction company’s stock worth $30,000 after buying an additional 4,000 shares during the last quarter. Institutional investors own 30.87% of the company’s stock.

Cemex SAB de CV Company Profile

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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