SunCoke Energy (SXC) Downgraded by Zacks Investment Research to Hold
SunCoke Energy (NYSE:SXC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Separately, B. Riley reiterated a “buy” rating on shares of SunCoke Energy in a report on Wednesday, November 1st.
SunCoke Energy (NYSE:SXC) last posted its earnings results on Thursday, October 26th. The energy company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.26. SunCoke Energy had a return on equity of 4.60% and a net margin of 0.42%. The firm had revenue of $339.00 million for the quarter, compared to the consensus estimate of $344.40 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. sell-side analysts expect that SunCoke Energy will post -0.16 earnings per share for the current fiscal year.
In other SunCoke Energy news, insider Phillip Michael Hardesty sold 4,444 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $11.37, for a total transaction of $50,528.28. Following the transaction, the insider now owns 70,161 shares in the company, valued at approximately $797,730.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.85% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Fox Run Management L.L.C. purchased a new stake in shares of SunCoke Energy in the 3rd quarter worth approximately $124,000. Quantbot Technologies LP purchased a new stake in shares of SunCoke Energy in the 3rd quarter worth approximately $142,000. Piedmont Investment Advisors LLC purchased a new stake in shares of SunCoke Energy in the 2nd quarter worth approximately $152,000. Crossmark Global Holdings Inc. purchased a new stake in shares of SunCoke Energy in the 3rd quarter worth approximately $155,000. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of SunCoke Energy in the 2nd quarter worth approximately $198,000. Hedge funds and other institutional investors own 90.86% of the company’s stock.
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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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