SunCoke Energy, Inc. (NYSE:SXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “SunCoke Energy, Inc is a producer of metallurgical coke in the Americas. The Company acquires, owns, and operates the coke making and coal mining operations. Its coke making facilities are in the United States and Brazil. “
Shares of SunCoke Energy (NYSE:SXC) opened at 10.55 on Thursday. The stock has a market capitalization of $678.57 million, a price-to-earnings ratio of 35.28 and a beta of 1.28. SunCoke Energy has a 12 month low of $6.28 and a 12 month high of $13.14. The firm’s 50 day moving average is $10.18 and its 200 day moving average is $9.60.
SunCoke Energy (NYSE:SXC) last issued its quarterly earnings results on Thursday, April 20th. The energy company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.12. The company had revenue of $309.70 million for the quarter, compared to analyst estimates of $410.60 million. SunCoke Energy had a return on equity of 3.29% and a net margin of 1.60%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. On average, equities analysts predict that SunCoke Energy will post ($0.03) earnings per share for the current fiscal year.
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In related news, major shareholder Mangrove Partners Fund (Cayman sold 86,605 shares of SunCoke Energy stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $11.00, for a total transaction of $952,655.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary P. Yeaw bought 10,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average cost of $8.08 per share, for a total transaction of $80,800.00. Following the completion of the acquisition, the insider now owns 40,973 shares of the company’s stock, valued at $331,061.84. The disclosure for this purchase can be found here. Insiders have sold 850,551 shares of company stock worth $9,415,508 over the last three months. Corporate insiders own 3.85% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SXC. Advisor Partners LLC raised its position in SunCoke Energy by 3.1% in the first quarter. Advisor Partners LLC now owns 11,724 shares of the energy company’s stock worth $105,000 after buying an additional 356 shares during the last quarter. Russell Investments Group Ltd. raised its position in SunCoke Energy by 37.8% in the first quarter. Russell Investments Group Ltd. now owns 443,968 shares of the energy company’s stock worth $3,978,000 after buying an additional 121,774 shares during the last quarter. Strs Ohio raised its position in SunCoke Energy by 15.6% in the first quarter. Strs Ohio now owns 79,400 shares of the energy company’s stock worth $711,000 after buying an additional 10,700 shares during the last quarter. Louisiana State Employees Retirement System raised its position in SunCoke Energy by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 26,100 shares of the energy company’s stock worth $234,000 after buying an additional 300 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in SunCoke Energy during the fourth quarter worth about $1,817,000. 97.44% of the stock is currently owned by hedge funds and other institutional investors.
SunCoke Energy Company Profile
SunCoke Energy, Inc is a producer of coke in the Americas. The Company’s segments include Domestic Coke, Brazil Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell Coke Company, L.P. (Jewell), Indiana Harbor Coke Company (Indiana Harbor), Haverhill Coke Company LLC (Haverhill), Gateway Energy and Coke Company, LLC (Granite City) and Middletown Coke Company, LLC (Middletown) cokemaking and heat recovery operations.
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