BidaskClub Downgrades SunCoke Energy, Inc. (SXC) to Strong Sell
SunCoke Energy, Inc. (NYSE:SXC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.
Separately, Zacks Investment Research upgraded SunCoke Energy from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research note on Saturday, April 29th.
SunCoke Energy (NYSE:SXC) traded up 1.66% during trading on Friday, reaching $8.55. 532,625 shares of the company’s stock were exchanged. SunCoke Energy has a 52-week low of $6.28 and a 52-week high of $13.14. The stock’s 50-day moving average price is $10.30 and its 200-day moving average price is $9.49. The company’s market capitalization is $550.01 million.
SunCoke Energy (NYSE:SXC) last issued its earnings results on Thursday, July 27th. The energy company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.07. The business had revenue of $323.20 million during the quarter, compared to analyst estimates of $347.90 million. SunCoke Energy had a positive return on equity of 3.27% and a negative net margin of 0.01%. SunCoke Energy’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. Equities analysts expect that SunCoke Energy will post ($0.34) earnings per share for the current year.
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In other news, insider Gary P. Yeaw bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average cost of $8.08 per share, for a total transaction of $80,800.00. Following the completion of the purchase, the insider now owns 40,973 shares of the company’s stock, valued at approximately $331,061.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Mangrove Partners Fund (Cayman sold 86,605 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $11.00, for a total value of $952,655.00. The disclosure for this sale can be found here. Insiders sold 850,551 shares of company stock valued at $9,415,508 over the last 90 days. 3.85% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC raised its position in shares of SunCoke Energy by 44.1% in the fourth quarter. Teachers Advisors LLC now owns 161,707 shares of the energy company’s stock worth $1,834,000 after buying an additional 49,521 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of 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. Strs Ohio raised its position in shares of 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. Russell Investments Group Ltd. raised its position in shares of 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. Finally, Advisor Partners LLC raised its position in shares of 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. Institutional investors and hedge funds own 97.17% of the company’s stock.
About SunCoke Energy
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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