Cemex SAB de CV (NYSE:CX) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cemex SAB de CV (NYSE:CX) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. They currently have $3.25 target price on the construction company’s stock.

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. “

Other equities research analysts also recently issued research reports about the stock. Bradesco Corretora downgraded shares of Cemex SAB de CV from an outperform rating to a neutral rating and set a $3.00 price objective for the company. in a research report on Tuesday, April 14th. BNP Paribas downgraded shares of Cemex SAB de CV to a sell rating and set a $2.50 target price for the company. in a report on Tuesday, June 16th. ValuEngine raised shares of Cemex SAB de CV from a sell rating to a hold rating in a report on Tuesday, March 24th. Credit Suisse Group downgraded shares of Cemex SAB de CV from an outperform rating to a neutral rating in a report on Monday, April 6th. Finally, HSBC downgraded shares of Cemex SAB de CV from a hold rating to a reduce rating in a report on Wednesday, April 8th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $2.80.

Shares of CX stock opened at $2.75 on Tuesday. Cemex SAB de CV has a 1 year low of $1.55 and a 1 year high of $4.37. The firm has a fifty day moving average price of $2.57 and a 200-day moving average price of $2.97. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.83. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 34.38 and a beta of 1.45.

Cemex SAB de CV (NYSE:CX) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $0.01 earnings per share (EPS) for the quarter. Cemex SAB de CV had a net margin of 1.09% and a return on equity of 1.10%. The firm had revenue of $3.09 billion during the quarter. Equities research analysts expect that Cemex SAB de CV will post 0.01 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Cemex SAB de CV by 3,344.9% during the 4th quarter. FMR LLC now owns 13,832,751 shares of the construction company’s stock valued at $52,288,000 after purchasing an additional 13,431,206 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Cemex SAB de CV by 2.6% during the 1st quarter. Wells Fargo & Company MN now owns 11,335,249 shares of the construction company’s stock valued at $24,032,000 after purchasing an additional 291,464 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Cemex SAB de CV by 0.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 10,648,799 shares of the construction company’s stock valued at $22,575,000 after purchasing an additional 33,807 shares during the last quarter. Oaktree Capital Management LP raised its position in shares of Cemex SAB de CV by 13.7% during the 4th quarter. Oaktree Capital Management LP now owns 8,657,927 shares of the construction company’s stock valued at $32,726,000 after buying an additional 1,046,467 shares in the last quarter. Finally, TT International raised its position in shares of Cemex SAB de CV by 0.9% during the 4th quarter. TT International now owns 8,512,069 shares of the construction company’s stock valued at $32,175,000 after buying an additional 79,053 shares in the last quarter. 33.74% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Net Margin

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

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