Capital Research & Management 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 76.64% to 45.69 million shares with purchase of 19.82 million shares. This fresh investment now brings its stake to 3.02% valued currently at $364.14 million. In addition, Principal Global Investors LLC raised its holdings by 15.66 million to 19.25 million shares. And FIAM LLC has lifted its position by 24.20% or 2.61 million shares – to 13.38 million shares.
With over 6.42 million CEMEX S.A.B. de C.V. (CX) shares trading Monday and a closing price of $6.94 on the day, the dollar volume was approximately $44.53 million. The shares have shown a positive half year performance of 43.69% and its price on 09/18/23 gained nearly 1.76%. Currently, there are 1.51B common shares owned by the public and among those 1.51B 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 $9.27. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $5.70. The average price target is 21.05% above its recent price level and a downside to the estimated low will see the stock lose -21.75% over that period. But an upside of 42.17% will see the stock hit the forecast high price target while median target price for the stock is $9.00.
The top 3 mutual fund holders in CEMEX S.A.B. de C.V. are Fidelity Inv. Trust – Emerging Ma, American Funds New World Fund, and American Funds EuroPacific Growth. Fidelity Inv. Trust – Emerging Ma owns 24.61 million shares of the company’s stock, all valued at over $196.16 million. The company sold -6.02 million shares recently to bring their total holdings to about 1.63% of the shares outstanding. American Funds EuroPacific Growth bought 18.78 million shares to bring its total holdings to over 18.78 million shares at a value of $149.66 million. American Funds EuroPacific Growth now owns shares totaling to 1.24% of the shares outstanding.
Shares of CEMEX S.A.B. de C.V. (NYSE: CX) opened at $6.81, down -$0.01 from a prior closing price of $6.82. However, the script later moved the day high at 6.95, up 1.76%. The company’s stock has a 5-day price change of -1.56% and -3.61% over the past three months. CX shares are trading 71.36% year to date (YTD), with the 12-month market performance up to 90.14% higher. It has a 12-month low price of $3.20 and touched a high of $8.46 over the same period. CX has an average intraday trading volume of 6.79 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 -9.62%, -8.55%, and 15.06% respectively.
Institutional ownership of CEMEX S.A.B. de C.V. (NYSE: CX) shares accounts for 30.00% of the company’s 1.51B shares outstanding. Mutual fund holders own 12.65%, while other institutional holders and individual stakeholders account for 18.39% and — respectively.
It has a market capitalization of $10.57B and a beta (3y monthly) value of 1.46. The stock’s trailing 12-month PE ratio is 17.53, while the earnings-per-share (ttm) stands at $0.40. The company has a PEG of 1.29 and a Quick Ratio of 0.30 with the debt-to-equity ratio at 0.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.23% over the week and 3.17% over the month.
Analysts forecast that CEMEX S.A.B. de C.V. (CX) will achieve an EPS of $Citigroup, Inc. for the current quarter, $42.64 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $United States Steel Corporation while analysts give the company a high EPS estimate of $Blackstone Inc.. Comparatively, EPS for the current quarter was $Freeport-McMoRan, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -32.50%, and 15.30% over the next financial year. EPS should grow at an annualized rate of 13.60% over the next five years, compared to -45.10% over the past 5-year period.
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 2.30. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 6 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CX, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on May 15, 2023, with the firm’s price target at $6.80-$7.20.