SunCoke Energy Inc. (SXC) to Post FY2017 Earnings of $0.19 Per Share, FBR & Co Forecasts
SunCoke Energy Inc. (NYSE:SXC) – Equities researchers at FBR & Co dropped their FY2017 earnings per share estimates for SunCoke Energy in a research note issued on Thursday. FBR & Co analyst L. Pipes now forecasts that the brokerage will post earnings per share of $0.19 for the year, down from their previous estimate of $0.20.
SunCoke Energy (NYSE:SXC) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. SunCoke Energy had a positive return on equity of 0.95% and a negative net margin of 1.02%. The firm had revenue of $292.70 million for the quarter, compared to the consensus estimate of $286.20 million. During the same period last year, the company posted ($0.04) earnings per share. The business’s revenue was down 15.9% compared to the same quarter last year.
Separately, Zacks Investment Research downgraded shares of SunCoke Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd.
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Shares of SunCoke Energy (NYSE:SXC) opened at 7.28 on Monday. SunCoke Energy has a 52-week low of $2.05 and a 52-week high of $8.21. The company’s market capitalization is $467.22 million. The firm’s 50-day moving average is $7.16 and its 200 day moving average is $6.73.
In other SunCoke Energy news, major shareholder Mangrove Partners Fund (Cayman purchased 215,517 shares of SunCoke Energy stock in a transaction that occurred on Monday, August 1st. The stock was acquired at an average price of $7.20 per share, with a total value of $1,551,722.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.27% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of SXC. JPMorgan Chase & Co. increased its position in SunCoke Energy by 8.5% in the first quarter. JPMorgan Chase & Co. now owns 141,461 shares of the company’s stock worth $919,000 after buying an additional 11,140 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in SunCoke Energy by 110.7% in the second quarter. BNP Paribas Arbitrage SA now owns 19,770 shares of the company’s stock worth $115,000 after buying an additional 10,386 shares in the last quarter. California Public Employees Retirement System increased its position in SunCoke Energy by 9.4% in the second quarter. California Public Employees Retirement System now owns 537,700 shares of the company’s stock worth $3,129,000 after buying an additional 46,000 shares in the last quarter. Magnetar Financial LLC purchased a new position in SunCoke Energy during the first quarter worth about $645,000. Finally, Prudential Financial Inc. increased its position in SunCoke Energy by 2.5% in the first quarter. Prudential Financial Inc. now owns 152,910 shares of the company’s stock worth $994,000 after buying an additional 3,800 shares in the last quarter. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
About SunCoke Energy
SunCoke Energy, Inc is an independent producer of coke in the Americas. The Company also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s segments include Domestic Coke, Brazil Coke, India Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell, Indiana Harbor, Haverhill, Granite City and Middletown cokemaking and heat recovery operations located in Vansant, Virginia; East Chicago, Indiana; Franklin Furnace, Ohio; Granite City, Illinois, and Middletown, Ohio, respectively.
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