The Goldman Sachs Group Issues Positive Forecast for CEMEX (NYSE:CX) Stock Price

CEMEX (NYSE:CX) had its target price boosted by investment analysts at The Goldman Sachs Group from $8.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 45.16% from the stock’s current price.

Separately, Royal Bank of Canada increased their price objective on shares of CEMEX from $5.00 to $6.00 and gave the company 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.82.

CEMEX Price Performance

CEMEX stock opened at $6.20 on Thursday. The stock has a fifty day moving average of $5.98 and a 200-day moving average of $5.92. The stock has a market capitalization of $8.98 billion, a P/E ratio of 9.84 and a beta of 1.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. CEMEX has a 52 week low of $5.00 and a 52 week high of $9.27.

CEMEX (NYSE:CX) last issued its earnings results on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, topping 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%. On average, sell-side analysts expect that CEMEX will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CX. JPMorgan Chase & Co. grew its holdings in CEMEX by 123.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock worth $88,093,000 after acquiring an additional 7,986,204 shares during the last quarter. GFS Advisors LLC lifted its holdings in shares of CEMEX by 1,505.0% during the third quarter. GFS Advisors LLC now owns 166,427 shares of the construction company’s stock worth $1,015,000 after purchasing an additional 156,058 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of CEMEX by 8.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock worth $60,327,000 after purchasing an additional 807,394 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in CEMEX by 63.2% in the third quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock valued at $32,927,000 after purchasing an additional 2,090,688 shares during the period. Finally, Sanctuary Advisors LLC raised its position in CEMEX by 46.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company’s stock worth $319,000 after purchasing an additional 16,585 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

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.