SunCoke Energy (NYSE:SXC) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of SunCoke Energy, Inc. (NYSE:SXC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.38 and traded as high as $8.41. SunCoke Energy shares last traded at $8.3870, with a volume of 1,050,667 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of SunCoke Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $9.00.

SunCoke Energy Stock Performance

The firm has a fifty day simple moving average of $8.01 and a 200-day simple moving average of $7.38. The company has a market cap of $711.64 million, a PE ratio of -10.89 and a beta of 0.96. The company has a quick ratio of 1.31, a current ratio of 2.23 and a debt-to-equity ratio of 1.09.

SunCoke Energy (NYSE:SXC) last posted its earnings results on Thursday, April 30th. The energy company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). SunCoke Energy had a negative net margin of 3.55% and a positive return on equity of 4.47%. The firm had revenue of $455.10 million during the quarter, compared to analysts’ expectations of $416.15 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts forecast that SunCoke Energy, Inc. will post 0.2 EPS for the current fiscal year.

SunCoke Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.48 annualized dividend and a yield of 5.7%. SunCoke Energy’s payout ratio is -62.34%.

Hedge Funds Weigh In On SunCoke Energy

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in SunCoke Energy by 21.0% in the 1st quarter. Bank of America Corp DE now owns 371,770 shares of the energy company’s stock valued at $2,420,000 after purchasing an additional 64,441 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of SunCoke Energy by 20.3% in the first quarter. Royal Bank of Canada now owns 8,437 shares of the energy company’s stock valued at $55,000 after buying an additional 1,422 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of SunCoke Energy by 16.2% during the first quarter. Empowered Funds LLC now owns 474,814 shares of the energy company’s stock worth $3,091,000 after buying an additional 66,076 shares during the period. Weiss Asset Management LP acquired a new stake in shares of SunCoke Energy during the first quarter worth about $1,198,000. Finally, Entropy Technologies LP grew its holdings in shares of SunCoke Energy by 93.2% during the first quarter. Entropy Technologies LP now owns 24,174 shares of the energy company’s stock worth $157,000 after buying an additional 11,660 shares during the last quarter. 90.45% of the stock is owned by institutional investors and hedge funds.

SunCoke Energy Company Profile

SunCoke Energy, Inc is a leading independent producer of metallurgical coke and related products for the steel and foundry industries. The company specializes in manufacturing both blast furnace coke and foundry coke, offering high‐quality, low‐sulfur coal products that serve as essential inputs in steelmaking and metal casting processes. In addition to coke production, SunCoke provides comprehensive engineering, maintenance and environmental solutions tailored to the needs of integrated steel mills and foundries.

The company operates a network of coke production facilities across the United States, including plants in Indiana, Ohio, West Virginia and Louisiana.