Cemex SAB de CV (NYSE:CX) Upgraded by Zacks Investment Research to Hold

Cemex SAB de CV (NYSE:CX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, 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. “

Several other research firms also recently weighed in on CX. HSBC downgraded Cemex SAB de CV from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. ValuEngine raised Cemex SAB de CV from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $6.00.

Shares of CX traded down $0.11 during mid-day trading on Tuesday, hitting $3.52. 4,480,245 shares of the company were exchanged, compared to its average volume of 7,101,856. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 10.06 and a beta of 1.43. Cemex SAB de CV has a 1-year low of $2.82 and a 1-year high of $5.63. The company has a 50 day moving average of $3.84 and a 200-day moving average of $3.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.50 and a current ratio of 0.69.

Cemex SAB de CV (NYSE:CX) last posted its quarterly earnings data on Thursday, October 24th. The construction company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.05). Cemex SAB de CV had a return on equity of 1.78% and a net margin of 2.51%. The firm had revenue of $3.49 billion during the quarter. Research analysts anticipate that Cemex SAB de CV will post 0.28 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtus ETF Advisers LLC purchased a new stake in Cemex SAB de CV during the 2nd quarter valued at about $26,000. Golden State Wealth Management LLC grew its position in shares of 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 valued at $30,000 after purchasing an additional 4,000 shares in the last quarter. Howard Financial Services LTD. purchased a new stake in shares of Cemex SAB de CV in the third quarter valued at approximately $42,000. TT International purchased a new stake in shares of Cemex SAB de CV in the second quarter valued at approximately $46,346,000. Finally, Traynor Capital Management Inc. acquired a new stake in shares of Cemex SAB de CV in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 33.53% of the company’s stock.

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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Analyst Recommendations for Cemex SAB de CV (NYSE:CX)

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