Zacks Investment Research Upgrades SunCoke Energy, Inc. (SXC) to Hold
SunCoke Energy, Inc. (NYSE:SXC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
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. “
Several other research analysts have also recently issued reports on the company. BidaskClub cut SunCoke Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. TheStreet cut SunCoke Energy from a “c-” rating to a “d+” rating in a research report on Friday, August 4th.
Shares of SunCoke Energy (NYSE:SXC) opened at 8.64 on Friday. 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 $9.77 and its 200-day moving average price is $9.34. The company’s market cap is $555.80 million.
SunCoke Energy (NYSE:SXC) last announced its earnings results on Thursday, July 27th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.07. The company had revenue of $323.20 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Analysts expect that SunCoke Energy will post ($0.34) EPS for the current year.
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In related news, major shareholder Mangrove Partners Fund (Cayman sold 215,157 shares of SunCoke Energy stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $11.01, for a total transaction of $2,368,878.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Mangrove Partners Master Fund, sold 41,131 shares of SunCoke Energy stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $11.01, for a total value of $452,852.31. The disclosure for this sale can be found here. Insiders have sold 850,551 shares of company stock worth $9,415,508 over the last quarter. 3.85% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Teachers Advisors LLC raised its stake 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 period. Louisiana State Employees Retirement System raised its stake 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 period. Strs Ohio raised its stake 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 period. Russell Investments Group Ltd. raised its stake 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 period. Finally, Advisor Partners LLC raised its stake 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 period. Institutional investors and hedge funds own 98.12% 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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