Fidelity Management & Research Co.. recently announced the acquisition of new stake in CEMEX S.A.B. de C.V. (NYSE:CX). The institutional investor has increased its shareholding in the Basic Materials company by 62.17% to 61.25 million shares with purchase of 23.48 million shares. This fresh investment now brings its stake to 4.05% valued currently at $187.42 million. In addition, Baillie Gifford & Co. raised its holdings by 1.76 million to 39.71 million shares. And Oaktree Capital Management LP has lifted its position by 57.54% or 8.74 million shares – to 23.94 million shares.
With over 7.81 million CEMEX S.A.B. de C.V. (CX) shares trading Tuesday and a closing price of $3.29 on the day, the dollar volume was approximately $25.7 million. The shares have shown a negative weekly performance of -7.06% and its price on 09/01/20 gained nearly 2.49%. Currently, there are 1.47B common shares owned by the public and among those 461.45M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for CX have a consensus price objective of $3.79. The analysts have set the share’s price value over the next 12 months at a high of $7.50 and a low of $2.60 should the stock experience a downside. Incidentally, analysts’ outlook for the CEMEX S.A.B. de C.V. stock is 2.60 for the next 12 months. The average price target is 8.86% above its last price level and an upside to the estimated low will see the stock lose -26.54% over that period. But an upside of 56.13% will see the stock hit the forecast high price target while mean target price for the stock is $3.61.
The top 3 mutual fund holders in CEMEX S.A.B. de C.V. are Dodge & Cox Funds – International, Fidelity Inv. Trust – Emerging Ma, and Dodge & Cox Funds – Global Stock. Dodge & Cox Funds – International owns 84.44 million shares of the company’s stock, all valued at over $258.4 million. Dodge & Cox Funds – Global Stock now owns shares totaling to 0.93% of the shares outstanding.
Shares of CEMEX S.A.B. de C.V. (NYSE: CX) opened at $3.25, up $0.04 from a prior closing price of $3.21. However, the script later closed the day at $3.29, up 2.49%. The company’s stock has a 5-day price change of -7.06% and 12.29% over the past three months. CX shares are trading -12.96% year to date (YTD), with the 12-month market performance down to -7.84% lower. It has a 12-month low price of $1.55 and touched a high of $4.37 over the same period. Currently, 7.81 million shares have been traded, compared to an average intraday trading volume of 7.48 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.94%, 6.88%, and 7.85% respectively.
Institutional ownership of CEMEX S.A.B. de C.V. (NYSE: CX) shares accounts for 37.60% of the company’s 1.47B shares outstanding. Mutual fund holders own 17.78%, while other institutional holders and individual stakeholders account for 19.24% and — respectively.
It has a market capitalization of $5.02B and a beta (3y monthly) value of 1.50. The stock’s trailing 12-month PE ratio is 235.00, while the earnings-per-share (ttm) stands at $0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.58% over the week and 3.19% over the month.
Analysts forecast that CEMEX S.A.B. de C.V. (CX) will achieve an EPS of $0.04 for the current quarter, -$0.01 for the next quarter and $0.16 for 2021. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.06. Comparatively, EPS for the current quarter was $0.11 a year ago. Earnings per share for the fiscal year are expected to decrease by -87.90%, and 128.57% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate CEMEX S.A.B. de C.V. (CX) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 12 of the 20 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the CX, a number of firms have released research notes about the stock. HSBC Securities stated their Hold rating for the stock in a research note on September 01, 2020, with the firm’s price target at $3.50. Credit Suisse coverage for the CEMEX S.A.B. de C.V. (CX) stock in a research note released on July 15, 2020 offered a Outperform rating with a price target of. Loop Capital was of a view on April 17, 2020 that the stock is Sell, while JP Morgan gave the stock Neutral rating on April 06, 2020, issuing a price target of. Credit Suisse on their part issued Neutral rating on April 06, 2020.