Q4 2016 Earnings Forecast for SunCoke Energy Inc. (SXC) Issued By FBR & Co
SunCoke Energy Inc. (NYSE:SXC) – Analysts at FBR & Co increased their Q4 2016 EPS estimates for SunCoke Energy in a research note issued to investors on Thursday. FBR & Co analyst L. Pipes now expects that the brokerage will post earnings of $0.32 per share for the quarter, up from their previous forecast of $0.27. FBR & Co also issued estimates for SunCoke Energy’s FY2018 earnings at $0.22 EPS.
Separately, Zacks Investment Research upgraded SunCoke Energy from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $8.50.
SunCoke Energy (NYSE:SXC) traded down 0.14% during mid-day trading on Friday, hitting $7.32. 193,039 shares of the stock were exchanged. The stock has a 50 day moving average price of $7.14 and a 200 day moving average price of $6.72. SunCoke Energy has a 1-year low of $2.05 and a 1-year high of $8.21. The company’s market capitalization is $469.79 million.
SunCoke Energy (NYSE:SXC) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.05. SunCoke Energy had a negative net margin of 1.02% and a positive return on equity of 0.95%. The business earned $292.70 million during the quarter, compared to analyst estimates of $286.20 million. During the same quarter last year, the business earned ($0.04) earnings per share. SunCoke Energy’s revenue for the quarter was down 15.9% on a year-over-year basis.
In other SunCoke Energy news, major shareholder Mangrove Partners Fund (Cayman purchased 291,478 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were purchased at an average cost of $6.98 per share, for a total transaction of $2,034,516.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.27% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in SunCoke Energy by 8.5% in the first quarter. JPMorgan Chase & Co. now owns 141,461 shares of the company’s stock worth $919,000 after buying an additional 11,140 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of SunCoke Energy by 110.7% in the second quarter. BNP Paribas Arbitrage SA now owns 19,770 shares of the company’s stock worth $115,000 after buying an additional 10,386 shares during the last quarter. California Public Employees Retirement System raised its position in shares of SunCoke Energy by 9.4% in the second quarter. California Public Employees Retirement System now owns 537,700 shares of the company’s stock worth $3,129,000 after buying an additional 46,000 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of SunCoke Energy during the first quarter worth $645,000. Finally, Prudential Financial Inc. raised its position in shares of SunCoke Energy by 2.5% in the first quarter. Prudential Financial Inc. now owns 152,910 shares of the company’s stock worth $994,000 after buying an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.
About SunCoke Energy
SunCoke Energy, Inc is an independent producer of coke in the Americas. The Company also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s segments include Domestic Coke, Brazil Coke, India Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell, Indiana Harbor, Haverhill, Granite City and Middletown cokemaking and heat recovery operations located in Vansant, Virginia; East Chicago, Indiana; Franklin Furnace, Ohio; Granite City, Illinois, and Middletown, Ohio, respectively.
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