SunCoke Energy Inc. (SXC) Cut to Strong Sell at Zacks Investment Research
SunCoke Energy Inc. (NYSE:SXC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday.
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 8.96 on Tuesday. The stock has a 50 day moving average of $7.34 and a 200-day moving average of $6.78. The stock’s market capitalization is $575.04 million. SunCoke Energy has a one year low of $2.05 and a one year high of $9.67.
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SunCoke Energy (NYSE:SXC) last issued its earnings results on Thursday, October 20th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.19. SunCoke Energy had a negative net margin of 1.02% and a positive return on equity of 0.95%. The business had revenue of $293.90 million for the quarter, compared to the consensus estimate of $274.50 million. During the same quarter last year, the firm posted ($0.06) EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. Equities analysts predict that SunCoke Energy will post $0.06 earnings per share for the current fiscal year.
In other news, major shareholder Mangrove Partners Fund (Cayman purchased 215,517 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were purchased at an average price of $7.20 per share, with a total value of $1,551,722.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.27% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position in shares of SunCoke Energy by 1,465.5% in the second quarter. GSA Capital Partners LLP now owns 173,406 shares of the company’s stock valued at $1,009,000 after buying an additional 162,329 shares in the last quarter. California Public Employees Retirement System raised its position in shares of SunCoke Energy by 9.4% in the second quarter. California Public Employees Retirement System now owns 537,700 shares of the company’s stock valued at $3,129,000 after buying an additional 46,000 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of SunCoke Energy during the second quarter valued at $557,000. ClariVest Asset Management LLC raised its position in shares of SunCoke Energy by 42.0% in the second quarter. ClariVest Asset Management LLC now owns 229,740 shares of the company’s stock valued at $1,336,000 after buying an additional 67,959 shares in the last quarter. Finally, Strs Ohio raised its position in shares of SunCoke Energy by 253.9% in the second quarter. Strs Ohio now owns 113,600 shares of the company’s stock valued at $661,000 after buying an additional 81,500 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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