CEMEX (NYSE:CX) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley cut shares of CEMEX (NYSE:CX) from an overweight rating to an equal weight rating in a research note released on Wednesday morning, Marketbeat reports.

A number of other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Royal Bank of Canada raised their price objective on shares of CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.82.

CEMEX Trading Down 5.9 %

CX stock opened at $5.67 on Wednesday. CEMEX has a 1-year low of $5.00 and a 1-year high of $9.27. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $6.17 and its 200-day moving average is $5.89. The firm has a market cap of $8.21 billion, a P/E ratio of 8.99 and a beta of 1.45.

CEMEX (NYSE:CX) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Equities analysts anticipate that CEMEX will post 0.69 earnings per share for the current fiscal year.

CEMEX Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were given a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX’s payout ratio is presently 12.70%.

Hedge Funds Weigh In On CEMEX

A number of large investors have recently modified their holdings of CX. IFP Advisors Inc raised its holdings in CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after purchasing an additional 3,062 shares during the last quarter. Barclays PLC increased its stake in CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares in the last quarter. Townsquare Capital LLC acquired a new stake in CEMEX in the fourth quarter worth $57,000. Dark Forest Capital Management LP bought a new position in shares of CEMEX during the fourth quarter worth $59,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of CEMEX in the 4th quarter valued at $59,000. 82.97% of the stock is currently 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.