CEMEX S.A.B. de C.V (NYSE:CX) Receives a Downgrade
Credit Suisse has just given shares of CEMEX S.A.B. de C.V (NYSE:CX)an updated “Neutral” rating in an interesting research report finalized on 14 December. This is a ratings downgrade from the last “Outperform” rating that they had set. The equities firm after the upgrade has a $6.00 price target on firm, which suggests the potential for a 16.28% upside.
From a total of 20 analysts covering CEMEX S.A.B. de C.V. (NYSE:CX) stock, 14 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $18 while the lowest target price is $8. The mean of all analyst targets is $10.75 with a 77.52% above today’s ($5.16) stock price. CEMEX S.A.B. de C.V. was the topic of 11 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Santander downgraded shares on October 27 to “Hold” rating. Citigroup downgraded CX stock in a recent report from October 22 to “Neutral” rating.
The stock decreased 6.44% or $0.36 on December 11, striking $5.16. Approximately shares of stock traded hands. Cemex SAB de CV (ADR) (NYSE:CX) has declined 48.96% since May 11, 2015 and is downtrending. It has underperformed by 44.54% the S&P500.
CEMEX, S.A.B. de C.V. is an operating and holding firm 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 clients and communities in more than 50 countries throughout the world. The company has a market cap of $6.98 billion. The Firm operates in geographical divisions: Mexico, United States, Northern Europe, Mediterranean, South America and the Caribbean (SAC), and Asia. It currently has negative earnings. The Company’s types of cement include Gray Ordinary Portland Cement, White Portland Cement, Masonry or Mortar, Oil-well Cement and Blended Cement.
According to Zacks Investment Research, “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.”