Previous Close | 0.8500 |
Open | 0.8500 |
Bid | 0.0000 x 0 |
Ask | 0.0000 x 0 |
Day's Range | 0.8500 - 0.8500 |
52 Week Range | 0.5500 - 0.9500 |
Volume | |
Avg. Volume | 676,380 |
Market Cap | 12.431B |
Beta (5Y Monthly) | 1.09 |
PE Ratio (TTM) | 21.25 |
EPS (TTM) | 0.0400 |
Earnings Date | N/A |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | Dec 13, 2019 |
1y Target Est | N/A |
MONTERREY, Mexico, March 13, 2024--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.
Debt issued by Mexican cementmaker Cemex was upgraded to "BBB-" by S&P Global Ratings on Wednesday, pushing the firm one notch into investment-grade territory after more than a decade of languishing in the agency's speculative grade, or junk, status. The credit ratings agency emphasized in a statement that Cemex's business strategy provides "headroom for the company to sustain the investment-grade rating through business cycles." S&P added that Cemex's priorities for this year and next should include boosting core earnings, or earnings before interest, taxes, depreciation, and amortization (EBITDA), through margin expansion and acquisitions.
Mexican cement maker Cemex will start using a new manufacturing method that will reduce its consumption of a key intermediary ingredient and cut carbon dioxide (CO2) emissions, the company said on Thursday. Scientists say the industry releases between 8% to 9% of global CO2 emissions per year, making it one of the biggest polluters. To address that, Cemex will begin a process of "micronizing," or finely grinding, its clinker, the heated mix of limestone and minerals that is an intermediary product in cement making, the company said.