In the last trading session, 6.97 million shares of the CEMEX S.A.B. de C.V. (NYSE:CX) were traded, and its beta was 1.40. Most recently the company’s share price was $6.17, and it changed around -$0.17 or -2.68% from the last close, which brings the market valuation of the company to $9.46B. CX currently trades at a discount to its 52-week high of $6.85, offering almost -11.02% off that amount. The share price’s 52-week low was $3.20, which indicates that the current value has risen by an impressive 48.14% since then. We note from CEMEX S.A.B. de C.V.’s average daily trading volume that its 10-day average is 4.9 million shares, with the 3-month average coming to 6.88 million.
CEMEX S.A.B. de C.V. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 20 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 6 recommended CX as a Hold, whereas 13 deemed it a Buy, and 0 rated it as Underweight. CEMEX S.A.B. de C.V. is expected to report earnings per share of $0.19 for the current quarter.
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CEMEX S.A.B. de C.V. (NYSE:CX) trade information
Instantly CX has showed a red trend with a performance of -2.68% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 6.69 on Tuesday, 05/23/23 increased the stock’s daily price by 7.77%. The company’s shares are currently up 52.35% year-to-date, but still down -6.66% over the last five days. On the other hand, CEMEX S.A.B. de C.V. (NYSE:CX) is 6.38% down in the 30-day period. We can see from the shorts that 10.12 million shares have been sold at a short interest cover period of 1.65 day(s).
The consensus price target as assigned by Wall Street analysts is $7.37, which translates to bulls needing to increase their stock price by 16.28% from its current value. Analyst projections state that CX is forecast to be at a low of $4.70 and a high of $9.50. In order for the stock price to hit the forecast high, the stock would need to plunge -53.97% from its current level, while the stock would need to crash 23.82% from its current level to reach the projected low.
CEMEX S.A.B. de C.V. (CX) estimates and forecasts
CEMEX S.A.B. de C.V. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 37.11 percent over the past six months and at a 77.78% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 216.70% in revenue this quarter, and will report an increase of 5.60% in the next quarter. The year-over-year growth rate is expected to be 7.40%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $4.35 billion in revenue for the current quarter. 4 analysts expect CEMEX S.A.B. de C.V. to make $4.35 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $4.08 billion and $4.04 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 6.70%. Forecasts for the next quarter put sales growth at 7.70%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -45.10%. CEMEX S.A.B. de C.V. earnings are expected to increase by -32.50% in 2023, but the outlook is positive 13.60% per year for the next five years.
CEMEX S.A.B. de C.V.’s next quarterly earnings report is expected to be released in June.
CEMEX S.A.B. de C.V. (NYSE:CX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.00% of CEMEX S.A.B. de C.V. shares, and 29.16% of them are in the hands of institutional investors. The stock currently has a share float of 29.16%. CEMEX S.A.B. de C.V. stock is held by 309 institutions, with Baillie Gifford and Company being the largest institutional investor. By Mar 30, 2023, it held 4.99% of the shares, which is about 75.58 million shares worth $466.32 million.
FMR, LLC, with 3.30% or 50.0 million shares worth $308.48 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Fidelity Series Emerging Markets Opportunities Fund and New World Fund, Inc. were the top two Mutual Funds as of Feb 27, 2023. The former held 43.44 million shares worth $268.0 million, making up 2.87% of all outstanding shares. On the other hand, New World Fund, Inc. held roughly 19.15 million shares worth around $118.18 million, which represents about 1.27% of the total shares outstanding.