CEMEX, S.A.B. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs. In addition, it provides building solutions for housing projects, pavement projects, and green building consultancy services; cement trade maritime services; and information technology solutions. The company operates approximately 2,000 retail stores in approximately 600 cities. CEMEX, S.A.B. de C.V. was founded in 1906 and is headquartered in San Pedro Garza GarcÃa, Mexico.
IPO Year:
Exchange: NYSE
Website: cemex.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/29/2024 | $7.00 → $6.00 | Overweight → Neutral | JP Morgan |
| 10/8/2024 | $9.00 → $6.50 | Underperform → Sector Perform | RBC Capital Mkts |
| 8/21/2024 | $8.00 | Overweight | JP Morgan |
| 7/31/2024 | $9.00 | Equal Weight → Overweight | Barclays |
| 7/10/2024 | $9.00 | Buy | Goldman |
| 5/14/2024 | $9.00 | Underperform | RBC Capital Mkts |
| 4/24/2024 | $9.00 | Buy → Neutral | BofA Securities |
| 2/9/2024 | $9.00 | Overweight → Equal Weight | Barclays |
| 1/9/2024 | $9.00 | Neutral → Buy | BofA Securities |
| 11/2/2023 | $8.19 | Buy | Citigroup |
This acquisition by NEORIS is poised to foster its expansion plans in the United States. Acquisition aligns with the company's strategy, aiming to establish broader and more global consulting capabilities to support clients in their digital transformation journey. ForeFront is a top Summit partner with multi-cloud integration expertise in Salesforce ecosystem. NEORIS, a global leader in digital acceleration, today announced that it has completed the acquisition of ForeFront, one of Salesforce's top partners and a globally recognized innovator in Cloud consulting and implementation services. ForeFront is to join NEORIS as a wholly-owned U.S.-based subsidiary and looking to accelera
6-K - CEMEX SAB DE CV (0001076378) (Filer)
6-K - CEMEX SAB DE CV (0001076378) (Filer)
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6-K - CEMEX SAB DE CV (0001076378) (Filer)
6-K - CEMEX SAB DE CV (0001076378) (Filer)
6-K - CEMEX SAB DE CV (0001076378) (Filer)
6-K - CEMEX SAB DE CV (0001076378) (Filer)
6-K - CEMEX SAB DE CV (0001076378) (Filer)
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6-K - CEMEX SAB DE CV (0001076378) (Filer)
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Award recognizes Cemex's efforts to develop breakthrough decarbonization technologies for the cement industry. Cemex uses concentrated solar power to produce clinker, the main component of cement. Cemex was awarded the Net-Zero Industries Award by Mission Innovation at a ceremony during COP29 in Baku, Azerbaijan for its revolutionary clinker decarbonization process using concentrated solar power. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241120978042/en/ The Net-Zero Industries Award recognizes and celebrates outstanding innovations in industrial decarbonization; it spotlights the people and projects revolutionizing
A consortium comprised of Cemex and Linde, a leading global industrial gases and engineering company, has been selected to receive €157 million in funding from the EU Innovation Fund for a pioneering CO2 capture project at Cemex's Rüdersdorf Cement Plant in Germany. The project, Cemex's largest planned Carbon Capture Use and Storage (CCUS) project to date, aims to capture 1.3 million metric tons of CO2 per year from Rüdersdorf's cement production, ultimately decarbonizing the site by 2030. "Our Future in Action climate action strategy is working hard to drive several revolutionary CCUS projects across our global operations," said Sergio Menéndez, President of Cemex Europe, Middle East, Af
Cemex was recognized for its innovative VeryNile initiative in Egypt and placed in the 24th position out of 52 ranked companies. Cemex announced today that it has been included in Fortune's 2024 Change the World list. The list, selected by Fortune reporters and editors from a list of about 250 companies, showcases businesses that are having a positive social impact through activities that are part of their core business strategy. Cemex is receiving this distinction for the fourth time. Fortune recognized Cemex's work with VeryNile in cleaning the Nile River and developing a more sustainable solution for the collected waste. VeryNile is an initiative supported by the Ministry of the Envi
Cemex announced today that it has acquired a majority stake in RC-Baustoffe Berlin GmbH & Co. KG, a recycling company and part of the Heim Group, as part of its ongoing efforts to grow its circularity business. The Berlin-based company processes mineral construction, demolition, and excavation materials (CDEM). This acquisition will integrate with Regenera, Cemex's business that provides circularity solutions to extend the life cycle of construction products and materials through reuse in value-added products. The acquired recycling facility can process up to 400,000 tons of material per year, which Regenera will turn into repurposed aggregates for concrete production, reintroducing them
Cemex and the Mission Possible Partnership collaborate on an analysis of decarbonization levers in partnership with the Bezos Earth Fund.MONTERREY, Mexico, May 13, 2024 /PRNewswire/ -- Cemex and the Mission Possible Partnership (MPP), in partnership with the Bezos Earth Fund, are collaborating to conduct an analysis of the potential of decarbonization levers at Cemex's Balcones cement plant in Texas. This analysis aims to accelerate Cemex's commitment to achieving net-zero CO2 emissions by 2050. There are various technological pathways to decarbonize the cement industry and MP
Cemex has been recognized as the industry's top-scoring company in the World Benchmarking Alliance's 2024 Climate and Energy Benchmark. This recognition demonstrates Cemex's commitment to transitioning to a lower-carbon cement industry, with the aim of becoming a net-zero CO2 company by 2050. The World Benchmarking Alliance (WBA) measured and ranked 91 of the world's most influential aluminum, cement, and steel companies for the first time based on their emission targets and transition to a lower-carbon future. Cemex achieved the highest score in the overall cement ranking after the WBA assessed the company's climate performance using industry specific Accelerate Climate Transition (ACT)
Cemex announced today that it has reached full investment grade status after being upgraded to BBB- by rating agency Fitch Ratings. This follows S&P Global Ratings' upgrade announced in March 2024. "Achieving investment grade is a milestone for Cemex," said Fernando A. González, CEO of Cemex. "This rating is confirmation of both our strategy and our execution against it. By optimizing our cost of capital, it also serves as the foundation for increased financial flexibility going forward to address our capital allocation priorities of growth investments in key markets and shareholder return." Cemex's strategic focus on its key markets was advanced further last week by the announcement of
Rating agency Standard & Poor's (S&P) announced today that it has upgraded Cemex's long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy, and flexible capital allocation. "Achieving an investment-grade credit rating from S&P is a very important milestone for Cemex," said Fernando A. González, CEO of Cemex. "While we had record results last year, this rating is recognition of successful execution against our medium-term strategy and consistent financial performance over several years." In 2023, Cemex's EBITDA grew 25%, while Free Cash Flow after maintenance capex more than doubled. S&P also up
This acquisition by NEORIS is poised to foster its expansion plans in the United States. Acquisition aligns with the company's strategy, aiming to establish broader and more global consulting capabilities to support clients in their digital transformation journey. ForeFront is a top Summit partner with multi-cloud integration expertise in Salesforce ecosystem. NEORIS, a global leader in digital acceleration, today announced that it has completed the acquisition of ForeFront, one of Salesforce's top partners and a globally recognized innovator in Cloud consulting and implementation services. ForeFront is to join NEORIS as a wholly-owned U.S.-based subsidiary and looking to accelera
This week, during COP28 in Dubai, Cemex unveiled the first fully electric, zero-emissions ready-mix truck in the Middle East. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231205492588/en/Cemex unveiled the first fully electric ready-mix truck in the Middle East during COP28 in Dubai. (Photo: Business Wire) The truck is fully operational and has the capacity to transport a full load of concrete. It is equipped with a state-of-the-art 350kWh battery which allows it to complete an average full workday with a single recharge. Cemex is actively collaborating with partners and manufacturers to discover, pilot, learn, and scale the
JP Morgan downgraded CEMEX S.A. from Overweight to Neutral and set a new price target of $6.00 from $7.00 previously
RBC Capital Mkts upgraded CEMEX S.A. from Underperform to Sector Perform and set a new price target of $6.50 from $9.00 previously
JP Morgan resumed coverage of CEMEX S.A. with a rating of Overweight and set a new price target of $8.00
Barclays upgraded CEMEX S.A. from Equal Weight to Overweight and set a new price target of $9.00
Goldman resumed coverage of CEMEX S.A. with a rating of Buy and set a new price target of $9.00
RBC Capital Mkts initiated coverage of CEMEX S.A. with a rating of Underperform and set a new price target of $9.00
BofA Securities downgraded CEMEX S.A. from Buy to Neutral and set a new price target of $9.00
Barclays downgraded CEMEX S.A. from Overweight to Equal Weight and set a new price target of $9.00
BofA Securities upgraded CEMEX S.A. from Neutral to Buy and set a new price target of $9.00
Citigroup resumed coverage of CEMEX S.A. with a rating of Buy and set a new price target of $8.20
BIRMINGHAM, Ala., March 21, 2023 /PRNewswire/ -- Vulcan Materials Company (NYSE:VMC), the nation's largest producer of construction aggregates, today issued the following statement: On Tuesday, March 14, 2023, CEMEX (NYSE:CX), aided by armed Mexican police and military, forcibly entered Vulcan's port facilities near Playa del Carmen. They are still occupying the property. There is no contract permitting CEMEX's use of Vulcan's port facilities. Although the companies had an agreement for CEMEX to lease a portion of Vulcan's property, that agreement expired on December 31, 2022, without any renewal. Prior to the expiration, CEMEX was formally made aware that negotiation of a new contract would
First quarter 2022 revenue of $42.9 million, driven by the $50.0 million licensing and royalty agreement with Atlas Renewable. GAAP operating income of $20.8 million. GAAP net loss of $20.1 million impacted by one-time IPO transaction costs of $20.6 million and a non-cash charge of $20.2 million for the change in fair value of our warrant liability due to the increase in stock price during the quarter. Adjusted EBITDA of $31.2 million. Began construction of the first Chinese deployment of a 100 MWh EVx™ gravity-based storage system in partnership with Atlas Renewable and China Tianying, which also invested $50.0 million into the private placement investment (PIPE) related to th
CEMEX acquires sustainable waste management company "Broquers Ambiental" in Mexico as part of its Future in Action program to achieve carbon neutrality. Currently, CEMEX transforms more than 500,000 tons of waste per year into climate-friendly fuels for its operations, avoiding the emission of more than 730,000 tons of CO2, which is equivalent to planting 12 million trees, thus helping to protect the environment and promote a circular economy in Mexico. CEMEX, S.A.B. de C.V. ("CEMEX") announced the acquisition of Broquers Ambiental ("Broquers"), a sustainable company that focuses on the separation, recovery, and treatment of urban solid waste generated in the city of Queretaro. This ac
Novus Capital Corporation II (NYSE:NXU, NXU.U, NXU WS))) ("Novus") and Energy Vault, an energy storage solutions company, jointly announce that they have entered into a definitive agreement for a business combination; upon closing, the combined company is expected to trade on NYSE under the symbol "GWHR." The transaction values the combined company at an implied pro-forma enterprise value of $1.1 billion and is expected to additionally provide up to $388 million in gross cash proceeds to the combined company. As part of the transaction, Novus II has received $100 million of commitments for a common stock PIPE, which will be used, among other things, to fund the combined company's growth
Cemex (NYSE:CX) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.24 by 29.17 percent. The company reported quarterly sales of $4.494 billion which missed the analyst consensus estimate of $4.631 billion by 2.96 percent. This is a 1.58 percent decrease over sales of $4.566 billion the same period last year.
JP Morgan analyst Adrian Huerta maintains Cemex (NYSE:CX) with a Overweight and lowers the price target from $9.5 to $8.5.
RBC Capital analyst Anthony Codling initiates coverage on Cemex (NYSE:CX) with a Underperform rating and announces Price Target of $9.
Goldman Sachs analyst Bruno Amorim maintains Cemex (NYSE:CX) with a Buy and raises the price target from $9 to $10.
Cemex announced today that its subsidiary, Cemex Asia B.V., has signed an agreement with DACON Corporation, DMCI Holdings, Inc. and Seminara Mining & Power Corporation for the sale of its operations and assets in the Philippines. Once closed, this transaction will further advance Cemex’s portfolio rebalancing strategy. The assets to be sold by Cemex Asia B.V. consist of 100% equity interest in Cemex Asian South East Corporation, which owns approximately 89% of Cemex Holdings Philippines, Inc. (“CHP”), which is listed on the Philippine Stock Exchange, Inc., for a purchase price resulting from deducting from an enterprise value of US$660 million the net debt and the 10.14% minority interest
Cemex (NYSE:CX) reported quarterly earnings of $0.17 per share which beat the analyst consensus estimate of $0.12 by 41.67 percent. This is a 13.33 percent increase over earnings of $0.15 per share from the same period last year. The company reported quarterly sales of $4.14 billion which missed the analyst consensus estimate of $4.19 billion by 1.24 percent. This is a 2.53 percent increase over sales of $4.04 billion the same period last year.
B of A Securities analyst Carlos Peyrelongue downgrades Cemex (NYSE:CX) from Buy to Neutral and maintains the price target from $9 to $9.
Barclays analyst Benjamin Theurer downgrades Cemex (NYSE:CX) from Overweight to Equal-Weight and announces $9 price target.