Street Calls of the Week
Cemex SAB de CV ADR stock reached a significant milestone, hitting a 52-week high of $9.68. The $13.86 billion market cap construction materials giant has demonstrated remarkable momentum, with an 83.62% surge over the past six months and a 63.36% increase over the past year. According to InvestingPro analysis, the company currently appears slightly undervalued, with a P/E ratio of 15.74 and an overall Financial Health Score of "GREAT." The stock’s rise to this new high highlights investor confidence and market optimism surrounding Cemex’s performance and future prospects. As the company continues to navigate the complexities of the global construction materials market, this latest development marks a positive trajectory in its financial journey. Discover 8 additional key insights about Cemex with InvestingPro’s exclusive Research Report, part of their comprehensive analysis of 1,400+ top stocks.
In other recent news, CEMEX has seen significant developments that could impact investor decisions. BofA Securities upgraded CEMEX from Neutral to Buy, raising its price target to $10.80, citing successful cost savings efforts and adjusted estimates ahead of its third-quarter earnings. Additionally, S&P Global Ratings upgraded CEMEX’s long-term national credit rating to ‘mxAAA’ from ‘mxAA+’, reflecting changes in the agency’s rating methodology.
Furthermore, CEMEX announced the second installment of its cash dividend for holders of its Ordinary Participation Certificates (CPOs) and American Depositary Shares (ADSs), with a total payout of $32.5 million. This installment is part of a previously approved $130 million cash dividend. In another announcement, CEMEX clarified that it found no internal causes for unusual trading activity in its securities on the Mexican Stock Exchange, attributing the fluctuations to market conditions.
These recent developments provide a comprehensive view of the company’s strategic moves and financial health.
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