SunCoke Energy (NYSE:SXC) Shares Gap Down Following Weak Earnings

SunCoke Energy, Inc. (NYSE:SXC)’s stock price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $7.99, but opened at $6.89. SunCoke Energy shares last traded at $6.8850, with a volume of 422,687 shares changing hands.

The energy company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($1.10). The business had revenue of $480.20 million for the quarter, compared to analysts’ expectations of $437.45 million. SunCoke Energy had a return on equity of 9.11% and a net margin of 3.53%.The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share.

SunCoke Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.48 annualized dividend and a yield of 6.8%. SunCoke Energy’s dividend payout ratio is currently 63.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SXC shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SunCoke Energy in a report on Monday, December 22nd. B. Riley Financial lowered their target price on SunCoke Energy from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

Institutional Trading of SunCoke Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SXC. Signaturefd LLC boosted its holdings in shares of SunCoke Energy by 44.9% in the fourth quarter. Signaturefd LLC now owns 4,256 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,318 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of SunCoke Energy by 7.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,733 shares of the energy company’s stock worth $187,000 after buying an additional 1,547 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of SunCoke Energy by 0.7% during the second quarter. Legal & General Group Plc now owns 223,115 shares of the energy company’s stock worth $1,917,000 after buying an additional 1,560 shares during the last quarter. Farther Finance Advisors LLC increased its stake in SunCoke Energy by 69.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,831 shares of the energy company’s stock valued at $28,000 after acquiring an additional 1,569 shares during the period. Finally, Allworth Financial LP grew its stake in SunCoke Energy by 80.6% during the second quarter. Allworth Financial LP now owns 3,629 shares of the energy company’s stock worth $31,000 after buying an additional 1,620 shares during the last quarter. 90.45% of the stock is currently owned by institutional investors and hedge funds.

SunCoke Energy Stock Performance

The stock has a 50-day moving average of $7.70 and a 200 day moving average of $7.61. The firm has a market capitalization of $598.87 million, a P/E ratio of 9.20 and a beta of 0.98. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.17 and a current ratio of 2.12.

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.