CEMEX (NYSE:CX) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of CEMEX (NYSE:CX) from a buy rating to a strong-buy rating in a report released on Friday morning.

Several other brokerages also recently issued reports on CX. Bank of America downgraded CEMEX from a buy rating to a neutral rating and set a $9.00 price target for the company. in a report on Wednesday, April 24th. The Goldman Sachs Group increased their price target on CEMEX from $9.00 to $10.00 and gave the company a buy rating in a report on Friday. Finally, Barclays downgraded CEMEX from an overweight rating to an equal weight rating and set a $9.00 price target for the company. in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $9.53.

CEMEX Trading Down 2.0 %

CX stock opened at $8.11 on Friday. The company has a market cap of $11.74 billion, a price-to-earnings ratio of 57.89, a PEG ratio of 0.17 and a beta of 1.47. The company has a quick ratio of 0.51, a current ratio of 0.78 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $8.33 and a 200-day simple moving average of $7.66. CEMEX has a 52 week low of $5.67 and a 52 week high of $9.27.

CEMEX (NYSE:CX) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported ($0.30) earnings per share (EPS) for the quarter. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. The company had revenue of $4.24 billion during the quarter. On average, equities research analysts expect that CEMEX will post 0.88 EPS for the current year.

Hedge Funds Weigh In On CEMEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CX. Robeco Institutional Asset Management B.V. boosted its position in CEMEX by 4.4% in the 3rd 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 buying an additional 373,246 shares during the last quarter. Raymond James & Associates lifted its position in shares of CEMEX by 37.4% during the third quarter. Raymond James & Associates now owns 50,402 shares of the construction company’s stock worth $328,000 after purchasing an additional 13,718 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of CEMEX during the third quarter worth about $95,000. Calamos Wealth Management LLC lifted its position in shares of CEMEX by 4.2% during the third quarter. Calamos Wealth Management LLC now owns 150,396 shares of the construction company’s stock worth $978,000 after purchasing an additional 6,046 shares during the last quarter. Finally, RWC Asset Advisors US LLC lifted its position in shares of 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 worth $56,000,000 after purchasing an additional 668,425 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.