Bank of America Lowers CEMEX (NYSE:CX) to Neutral

Bank of America downgraded shares of CEMEX (NYSE:CX) from a buy rating to a neutral rating in a research report report published on Wednesday morning, Marketbeat reports. Bank of America currently has $9.00 price target on the construction company’s stock.

Other equities analysts have also issued reports about the company. Barclays lowered CEMEX from an overweight rating to an equal weight rating and set a $9.00 price objective on the stock. in a research note on Friday, February 9th. StockNews.com downgraded CEMEX from a strong-buy rating to a buy rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $9.53.

CEMEX Price Performance

NYSE CX opened at $8.27 on Wednesday. CEMEX has a fifty-two week low of $5.67 and a fifty-two week high of $9.27. The stock’s 50-day moving average is $8.31 and its two-hundred day moving average is $7.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.74 and a quick ratio of 0.47. The firm has a market cap of $11.98 billion, a P/E ratio of 59.07, a price-to-earnings-growth ratio of 0.17 and a beta of 1.47.

CEMEX (NYSE:CX) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) EPS for the quarter. The business had revenue of $4.24 billion during the quarter. CEMEX had a return on equity of 1.81% and a net margin of 1.28%. On average, analysts anticipate that CEMEX will post 0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CEMEX

A number of institutional investors have recently added to or reduced their stakes in CX. Robeco Institutional Asset Management B.V. boosted its holdings in CEMEX by 4.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 8,764,242 shares of the construction company’s stock valued at $56,968,000 after purchasing an additional 373,246 shares in the last quarter. Raymond James & Associates boosted its holdings in CEMEX by 37.4% during the third quarter. Raymond James & Associates now owns 50,402 shares of the construction company’s stock valued at $328,000 after purchasing an additional 13,718 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in CEMEX during the third quarter valued at approximately $95,000. Calamos Wealth Management LLC boosted its holdings in CEMEX by 4.2% during the third quarter. Calamos Wealth Management LLC now owns 150,396 shares of the construction company’s stock valued at $978,000 after purchasing an additional 6,046 shares in the last quarter. Finally, RWC Asset Advisors US LLC boosted its holdings in CEMEX by 8.4% during the third quarter. RWC Asset Advisors US LLC now owns 8,615,365 shares of the construction company’s stock valued at $56,000,000 after purchasing an additional 668,425 shares in the last quarter. 82.97% of the stock is 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.