CEMEX (NYSE:CX) Lowered to Equal Weight Rating by Morgan Stanley

CEMEX (NYSE:CX) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday,Finviz reports.

A number of other research firms also recently issued reports on CX. Royal Bank of Canada upped their price target 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. The Goldman Sachs Group boosted their target price on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. One 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 MarketBeat, the company has an average rating of “Hold” and an average target price of $7.82.

CEMEX Stock Up 4.0 %

Shares of CX opened at $6.30 on Wednesday. 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 $6.14 and its 200 day moving average is $5.89. CEMEX has a 12-month low of $5.00 and a 12-month high of $9.27. The company has a market capitalization of $9.13 billion, a PE ratio of 10.00 and a beta of 1.45.

CEMEX (NYSE:CX) last released its quarterly earnings data 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 net margin of 5.70% and a return on equity of 7.78%. Research analysts expect that CEMEX will post 0.69 earnings per share for the current fiscal year.

Institutional Trading of CEMEX

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of CEMEX by 123.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock valued at $88,093,000 after purchasing an additional 7,986,204 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in CEMEX by 46.5% during the third quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company’s stock valued at $319,000 after buying an additional 16,585 shares during the period. IFP Advisors Inc raised its stake in CEMEX by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after buying an additional 3,062 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in CEMEX by 30.5% during the fourth quarter. QRG Capital Management Inc. now owns 30,937 shares of the construction company’s stock worth $174,000 after buying an additional 7,232 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in CEMEX by 166.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,077,576 shares of the construction company’s stock valued at $24,873,000 after acquiring an additional 2,549,852 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.