Cemex Analysts Slash Their Forecasts After Q3 Results

CEMEX, S.A.B. de C.V. CX reported worse-than-expected third-quarter financial results on Monday.

Cemex reported quarterly earnings of 14 cents per share which missed the analyst consensus estimate of 19 cents per share. The company reported quarterly sales of $4.090 billion which missed the analyst consensus estimate of $4.305 billion.

Cemex shares fell 8.7% to close at $5.46 on Monday.

These analysts made changes to their price targets on Cemex following earnings announcement.

• JP Morgan analyst Adrian Huerta downgraded Cemex from Overweight to Neutral and lowered the price target from $7 to $6.
• Barclays analyst Benjamin Theurer maintained Cemex with an Overweight and lowered the price target from $9 to $8.

Considering buying CX stock? Here’s what analysts think:

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