Cemex S.A.B. de C.V. (NYSE:CX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, October 4th.

According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “

A number of other equities research analysts have also recently issued reports on the company. ValuEngine cut Cemex S.A.B. de C.V. from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Bank of America Corporation lowered Cemex S.A.B. de C.V. from a “buy” rating to a “neutral” rating and raised their price target for the company from $10.60 to $10.70 in a report on Tuesday, August 29th. BidaskClub lowered Cemex S.A.B. de C.V. from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Berenberg Bank reissued a “hold” rating and set a $8.40 price target on shares of Cemex S.A.B. de C.V. in a report on Thursday, July 27th. Finally, Citigroup Inc. lowered Cemex S.A.B. de C.V. from a “neutral” rating to a “sell” rating and set a $9.00 price target on the stock. in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Cemex S.A.B. de C.V. currently has a consensus rating of “Buy” and a consensus target price of $10.58.

Cemex S.A.B. de C.V. (NYSE:CX) traded up 0.38% during midday trading on Wednesday, reaching $8.02. 16,060,517 shares of the company were exchanged. Cemex S.A.B. de C.V. has a 52 week low of $6.91 and a 52 week high of $10.37. The company has a market capitalization of $120.29 billion, a PE ratio of 104.16 and a beta of 1.31. The firm has a 50-day moving average price of $9.02 and a 200-day moving average price of $9.10.

Cemex S.A.B. de C.V. (NYSE:CX) last posted its earnings results on Wednesday, July 26th. The construction company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $3.58 billion for the quarter. Cemex S.A.B. de C.V. had a return on equity of 8.94% and a net margin of 8.34%. Equities research analysts anticipate that Cemex S.A.B. de C.V. will post $0.53 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in CX. Neuberger Berman Group LLC acquired a new stake in Cemex S.A.B. de C.V. during the 2nd quarter worth about $100,000. First Financial Equity Corporation acquired a new stake in Cemex S.A.B. de C.V. during the 1st quarter worth about $101,000. Huntington National Bank boosted its position in Cemex S.A.B. de C.V. by 19.0% during the 2nd quarter. Huntington National Bank now owns 10,775 shares of the construction company’s stock worth $102,000 after acquiring an additional 1,722 shares during the period. JFS Wealth Advisors LLC boosted its position in Cemex S.A.B. de C.V. by 2.9% during the 2nd quarter. JFS Wealth Advisors LLC now owns 11,306 shares of the construction company’s stock worth $107,000 after acquiring an additional 315 shares during the period. Finally, Institute for Wealth Management LLC. acquired a new stake in Cemex S.A.B. de C.V. during the 2nd quarter worth about $115,000. Hedge funds and other institutional investors own 40.19% of the company’s stock.

About Cemex S.A.B. de C.V.

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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