SunCoke Energy (NYSE:SXC) Sets New 12-Month High – Here’s Why

SunCoke Energy, Inc. (NYSE:SXC) hit a new 52-week high on Wednesday . The company traded as high as $8.98 and last traded at $8.9950, with a volume of 368032 shares trading hands. The stock had previously closed at $8.87.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SXC. B. Riley Financial dropped their price objective on SunCoke Energy from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings cut SunCoke Energy from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $9.00.

SunCoke Energy Price Performance

The stock has a market capitalization of $775.05 million, a price-to-earnings ratio of -11.88 and a beta of 0.86. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.31 and a current ratio of 2.23. The company has a 50 day moving average of $6.84 and a 200 day moving average of $7.01.

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

SunCoke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Friday, May 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, May 15th. SunCoke Energy’s payout ratio is presently -62.34%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SXC. Gendell Jeffrey L grew its stake in SunCoke Energy by 82.3% during the 4th quarter. Gendell Jeffrey L now owns 1,472,040 shares of the energy company’s stock worth $10,599,000 after purchasing an additional 664,528 shares in the last quarter. Invesco Ltd. lifted its holdings in SunCoke Energy by 72.0% during the 2nd quarter. Invesco Ltd. now owns 1,445,764 shares of the energy company’s stock worth $12,419,000 after buying an additional 605,366 shares during the last quarter. Federated Hermes Inc. lifted its holdings in SunCoke Energy by 65.5% during the 4th quarter. Federated Hermes Inc. now owns 1,422,356 shares of the energy company’s stock worth $10,241,000 after buying an additional 562,739 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in SunCoke Energy by 30.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,153,408 shares of the energy company’s stock worth $15,505,000 after buying an additional 503,500 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in SunCoke Energy by 119.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 759,682 shares of the energy company’s stock worth $5,470,000 after buying an additional 413,579 shares during the last quarter. 90.45% of the stock is owned by institutional investors and hedge funds.

About SunCoke Energy

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.