Cemex SAB de CV(NYSE:CX): cementing its position in the market
Of late, the ADR of Cemex SAB de CV(NYSE:CX), the Mexico-based cement company have been trading at much higher levels in contrast to the losses that the company has recently made. In the previous week, the stock dropped by around 2.61% but rose to the close last week. On Tuesday, CX dropped 1.69% but the Mexican company is expected to surge soon. It closed at $11.07 and a total of 10.19M shares were traded while the average volume of shares was 15.95M which was measured over 30 days.
In the beginning of July, the company announced that it has launched CEMEX Global Solutions. This service will provide its customers with a high-level scheme and will cover a range of technical services related to the ready-mix concrete, cement as well as the entire industry. CX has a market cap of 12.57B.
The strength factor
Very recently, Morgan Stanley analysts upgraded the CX stock from “equal weight” to “overweight”. For the last 12 months, CEMEX sales stood at $14.57B while its revenue was $1134.4M. For the past 12 months, the price to sales ratio was 0.78 while the price to cash ratio was 15.11. In addition to this, CEMEX’s return on assets was -3.10% for the same period, with a return on equity ratio of -10.50%.
About the company
Cemex SAB de CV (NYSE:CX) is a Mexico-based company that primarily engages in cement manufacturing via its numerous subsidiaries. CEMEX is involved in the production, distribution, and sale of cement, ready-mix concrete, clinker, aggregates and other related building materials, in more than 50 countries across the world. Its main production facilities are situated in Mexico, The U.S, Germany, Egypt, Spain, the Philippines, Columbia, the U.K and Puerto Rico. Its other large production facilities are in Croatia, Panama, Costa Rica, Nicaragua and Latvia.