SunCoke Energy (NYSE:SXC) Stock Rating Cut to Hold at Wall Street Zen
by Mitch Edgeman · The Markets DailyWall Street Zen lowered shares of SunCoke Energy (NYSE:SXC – Free Report) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.
Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SunCoke Energy in a research note on Tuesday, September 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $9.00.
View Our Latest Research Report on SunCoke Energy
SunCoke Energy Stock Up 1.5%
Shares of NYSE SXC opened at $9.88 on Friday. The stock has a market cap of $838.95 million, a PE ratio of -15.44 and a beta of 1.01. The company has a current ratio of 2.25, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. SunCoke Energy has a 12-month low of $5.51 and a 12-month high of $10.68. The company has a 50-day moving average of $9.61 and a 200 day moving average of $8.36.
SunCoke Energy (NYSE:SXC – Get Free Report) last issued its earnings results on Thursday, July 30th. The energy company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. SunCoke Energy had a positive return on equity of 6.37% and a negative net margin of 2.88%.The business had revenue of $475.30 million for the quarter, compared to analysts’ expectations of $445.20 million. During the same period in the previous year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, sell-side analysts predict that SunCoke Energy will post 0.32 EPS for the current fiscal year.
SunCoke Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Monday, August 17th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, August 17th. SunCoke Energy’s dividend payout ratio is -75.00%.
Institutional Trading of SunCoke Energy
A number of hedge funds and other institutional investors have recently modified their holdings of SXC. BlackRock Inc. purchased a new stake in shares of SunCoke Energy in the 2nd quarter valued at $72,643,000. Assenagon Asset Management S.A. purchased a new position in SunCoke Energy during the 2nd quarter valued at about $7,359,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in SunCoke Energy during the 2nd quarter valued at about $6,614,000. Readystate Asset Management LP acquired a new position in SunCoke Energy in the 2nd quarter valued at about $5,038,000. Finally, Empowered Funds LLC acquired a new position in SunCoke Energy in the 2nd quarter valued at about $3,889,000. 90.45% of the stock is owned by institutional investors and hedge funds.
About SunCoke Energy
SunCoke Energy, Inc is an independent producer of metallurgical coke, a carbon-based fuel and reducing agent used in blast-furnace steelmaking. The company operates cokemaking facilities in the United States and supplies coke primarily to integrated steel producers under long-term commercial arrangements.
SunCoke’s operations use coal as a raw material and employ heat-recovery technology that captures energy generated during the cokemaking process to produce electricity. In addition to coke production, the company provides coal-handling, storage, transloading and terminal services through its logistics operations, supporting the movement of coal and other bulk materials for industrial customers.
SunCoke Energy was formed from the cokemaking operations of Sunoco and became an independent, publicly traded company in 2012.