Cemex SAB de CV (CX) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Cemex SAB de CV (NYSE:CX) from a buy rating to a hold rating in a research note released on Friday.

CX has been the topic of a number of other research reports. Citigroup raised shares of Cemex SAB de CV from a sell rating to a neutral rating and set a $9.00 price target on the stock in a research note on Monday, October 23rd. Zacks Investment Research downgraded shares of Cemex SAB de CV from a hold rating to a sell rating in a research note on Wednesday, October 4th. J P Morgan Chase & Co cut their target price on shares of Cemex SAB de CV from $11.20 to $10.60 and set an overweight rating on the stock in a research note on Monday, October 30th. Bank of America downgraded shares of Cemex SAB de CV from a buy rating to a neutral rating and raised their target price for the company from $10.60 to $10.70 in a research note on Tuesday, August 29th. Finally, BidaskClub downgraded shares of Cemex SAB de CV from a buy rating to a hold rating in a research note on Thursday, August 10th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $10.76.

Cemex SAB de CV (NYSE CX) opened at $7.44 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.54 and a current ratio of 0.74. The firm has a market cap of $10,966.61, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.85 and a beta of 1.31. Cemex SAB de CV has a one year low of $7.41 and a one year high of $10.37.

Cemex SAB de CV (NYSE:CX) last posted its quarterly earnings results on Thursday, October 26th. The construction company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Cemex SAB de CV had a return on equity of 8.71% and a net margin of 8.38%. equities analysts expect that Cemex SAB de CV will post 0.56 EPS for the current year.

Several hedge funds have recently modified their holdings of CX. Boston Partners raised its stake in shares of Cemex SAB de CV by 237.6% in the 3rd quarter. Boston Partners now owns 47,249,853 shares of the construction company’s stock valued at $429,028,000 after acquiring an additional 33,254,975 shares during the period. Dodge & Cox grew its holdings in Cemex SAB de CV by 13.9% during the 2nd quarter. Dodge & Cox now owns 71,865,916 shares of the construction company’s stock valued at $676,977,000 after purchasing an additional 8,781,290 shares in the last quarter. Investec Asset Management LTD acquired a new stake in Cemex SAB de CV during the 2nd quarter valued at $80,758,000. Lazard Asset Management LLC grew its holdings in Cemex SAB de CV by 4,464.4% during the 2nd quarter. Lazard Asset Management LLC now owns 6,150,276 shares of the construction company’s stock valued at $57,934,000 after purchasing an additional 6,015,533 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Cemex SAB de CV by 352.1% during the 2nd quarter. SG Americas Securities LLC now owns 4,894,383 shares of the construction company’s stock valued at $46,105,000 after purchasing an additional 3,811,756 shares in the last quarter. 40.44% of the stock is currently owned by institutional investors and hedge funds.

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About Cemex SAB de CV

CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in over 50 countries throughout the world.

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