Principal Global Investors LLC has recently announced that it has increased stake in Cemex S.A.B. De C.V. ADR (NYSE:CX) by 0.32%. After grabbing 19.31 million shares, the institutional investor is now in possession of 61954.0 shares of the Basic Materials Company. The new investment brought the stake of investor firm to 1.28% having worth around $133.45 million. Moreover, Acadian Asset Management LLC increased its share by 5.54 million to have a control over 18.92 million shares. And American Century Investment Manag raised its holdings to 0.32 million shares by acquiring 9.74 million shares or 0.64% of the stake.
Cemex S.A.B. De C.V. ADR (CX) concluded trading on 01/03/24 at a closing price of $7.42, with 4.48 million shares of worth about $33.23 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.46% during that period and on Wednesday the price saw a loss of about -2.50%. Currently the company’s common shares owned by public are about 1.51B shares, out of which, 1.51B shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the CX stock and their offered price forecasts bring an average price target of $16.55. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $25.48 and could fall to a lowest price of $9.83. The stock’s current price level is 20.04% above of average price target set by the analysts, while a rise to estimated low would result in gain of 24.52% for the stock. However, touching the estimated high of $25.48 would mean a gain of 70.88% for the stock.
American Funds EuroPacific Growth, Fidelity Inv. Trust – Emerging Ma, and Baillie Gifford Emerging Markets are the top 3 mutual funds which are holding stakes in Cemex S.A.B. De C.V. ADR American Funds EuroPacific Growth is currently holding 18.63 million shares of worth totaling $128.72 million. The company recently came selling -0.15 million shares which brought its stake up to 1.23% of the company’s outstanding shares. Fidelity Inv. Trust – Emerging Ma sold -8.42 million shares, after which its hold over company’s outstanding shares shrunk to 0.79%, leaving 11.88 million shares with the mutual fund that have a worth of about $82.1 million. Baillie Gifford Emerging Markets, after buying 7.83 million shares, have now control over 0.52% of the stake in the company. It holds 0.0 shares of worth $54.11 million.
Cemex S.A.B. De C.V. ADR (NYSE: CX) started trading at $7.49, below -$0.12 from concluding price of the previous day. However, the stock later moved at a day high price of 7.55, or with a loss of -2.50%. Stock saw a price change of -8.73% in past 5 days and over the past one month there was a price change of 3.06%. Year-to-date (YTD), CX shares are showing a performance of -4.26% which increased to 83.21% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.07 but also hit the highest price of $8.46 during that period. The average intraday trading volume for Cemex S.A.B. De C.V. ADR shares is 5.87 million. The stock is currently trading -2.30% below its 20-day simple moving average (SMA20), while that difference is up 6.13% for SMA50 and it goes to 9.58% higher than SMA200.
Principal Global Investors LLC acquired 19.31 million shares of Cemex S.A.B. De C.V. ADR having value of about $133.45 million. Data submitted at the U.S SEC by Principal Global Investors LLC revealed that the firm now holds 61954.0 shares in the company valued at close to $459698.68, or have control over 0.32% stake in the company. Cemex S.A.B. De C.V. ADR (NYSE: CX) currently have 1.51B outstanding shares and institutions hold larger chunk of about 29.58% of that. Holding of mutual funds in the company is about 10.32% while other institutional holders and individual stake holders have control over 19.26% and — of the stake respectively.
The stock has a current market capitalization of $11.22B and its 3Y-monthly beta is at 1.47. PE ratio of stock for trailing 12 months is 23.81, while it has posted earnings per share of $0.31 in the same period. Its PEG reads 1.75 and has Quick Ratio of 0.58 while making debt-to-equity ratio of 0.62. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CX, volatility over the week remained 2.47% while standing at 2.61% over the month.
Analysts are in expectations that Cemex S.A.B. De C.V. ADR (CX) stock would likely to be making an EPS of $0.17 in the current quarter, while forecast for next quarter EPS is $0.16 and it is $0.8 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.05 which is $0.35 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.12 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 80.67% while it is estimated to increase by 22.27% in next year. EPS is likely to grow at an annualized rate of 13.60% for next 5-years, compared to annual growth of -1.42% made by the stock over the past 5-years.
Analysts at 19 brokerage firms have issued recommendations for the Cemex S.A.B. De C.V. ADR (CX)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.53. Out of those 19 Wall Street analysts, 13 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on November 02, 2023 offering a Buy rating for the stock and assigned a target price of $8.20 to it.
