Principal Global Investors LLC recently announced the acquisition of new stake in Cemex S.A.B. De C.V. ADR (NYSE:CX). The institutional investor has increased its shareholding in the Basic Materials company by 0.32% to 19.31 million shares with purchase of 61954.0 shares. This fresh investment now brings its stake to 1.28% valued currently at $115.3 million. In addition, Acadian Asset Management LLC raised its holdings by 5.54 million to 18.92 million shares. And American Century Investment Manag has lifted its position by 3.38% or 0.32 million shares – to 9.74 million shares.
With over 4.09 million Cemex S.A.B. De C.V. ADR (CX) shares trading Tuesday and a closing price of $6.95 on the day, the dollar volume was approximately $28.43 million. The shares have shown a positive half year performance of 3.42% and its price on 12/05/23 lost nearly -1.28%. Currently, there are 1.51B common shares owned by the public and among those 1.51B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for CX have a consensus price objective of $9.16. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $5.70. The average price target is 24.13% above its recent price level and a downside to the estimated low will see the stock lose -21.93% over that period. But an upside of 50.36% 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. ADR are Fidelity Inv. Trust – Emerging Ma, American Funds EuroPacific Growth, and Baillie Gifford Emerging Markets. Fidelity Inv. Trust – Emerging Ma owns 20.3 million shares of the company’s stock, all valued at over $121.2 million. American Funds EuroPacific Growth sold -0.15 million shares to see its total holdings shrink to 18.63 million shares valued at over $111.21 million and representing 1.23% of the shares outstanding. Baillie Gifford Emerging Markets now owns shares totaling to 0.52% of the shares outstanding.
Shares of Cemex S.A.B. De C.V. ADR (NYSE: CX) opened at $6.95, down -$0.09 from a prior closing price of $7.04. However, the script later moved the day high at 7.02, down -1.28%. The company’s stock has a 5-day price change of 2.66% and -8.43% over the past three months. CX shares are trading 71.60% year to date (YTD), with the 12-month market performance up to 58.68% higher. It has a 12-month low price of $3.98 and touched a high of $8.46 over the same period. CX has an average intraday trading volume of 7.40 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 1.08%, 7.34%, and 6.37% respectively.
Institutional ownership of Cemex S.A.B. De C.V. ADR (NYSE: CX) shares accounts for 29.58% of the company’s 1.51B shares outstanding. Mutual fund holders own 10.65%, while other institutional holders and individual stakeholders account for 18.94% and — respectively.
It has a market capitalization of $10.51B and a beta (3y monthly) value of 1.46. The stock’s trailing 12-month PE ratio is 22.30, while the earnings-per-share (ttm) stands at $0.31. The company has a PEG of 1.64 and a Quick Ratio of 0.58 with the debt-to-equity ratio at 0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.42% over the week and 3.04% over the month.
Analysts forecast that Cemex S.A.B. De C.V. ADR (CX) will achieve an EPS of $0.16 for the current quarter, $0.16 for the next quarter and $0.79 for 2024. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.35. Comparatively, EPS for the current quarter was -$0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 83.01%, and 21.32% over the next financial year. EPS should grow at an annualized rate of 13.60% over the next five years, compared to -1.42% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Cemex S.A.B. De C.V. ADR (CX) as a “Strong Buy” at a consensus score of 1.63. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 5 of the 19 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. Citigroup stated their Buy rating for the stock in a research note on November 02, 2023, with the firm’s price target at $8.20.
