CEMEX (NYSE:CX) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

CEMEX (NYSE:CX) released its earnings results on Thursday. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06, Zacks reports. CEMEX had a net margin of 5.70% and a return on equity of 7.82%.

CEMEX Price Performance

Shares of NYSE CX traded up $0.04 during midday trading on Friday, reaching $6.70. 5,143,294 shares of the stock traded hands, compared to its average volume of 9,947,166. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. The stock has a market capitalization of $9.71 billion, a PE ratio of 10.64 and a beta of 1.49. CEMEX has a one year low of $5.00 and a one year high of $9.27. The company’s 50 day moving average is $5.82 and its 200 day moving average is $5.90.

CEMEX Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were given a dividend of $0.0207 per share. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s dividend payout ratio is currently 9.52%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CX. Scotiabank reduced their target price on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. lowered shares of CEMEX from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $7.00 to $6.00 in a report on Tuesday, October 29th. Barclays dropped their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada upped their price target on CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.82.

About CEMEX

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.