Zacks Investment Research Downgrades SunCoke Energy Partners LP (SXCP) to Hold
SunCoke Energy Partners LP (NYSE:SXCP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
According to Zacks, “SunCoke Energy Partners L.P. manufactures metallurgical coke used in the blast furnace production of steel. SunCoke Energy Partners, L.P. is based in Lisle, Illinois. “
SunCoke Energy Partners (NYSE:SXCP) opened at 15.50 on Friday. SunCoke Energy Partners has a 52 week low of $5.16 and a 52 week high of $15.75. The company has a market cap of $716.26 million, a PE ratio of 7.79 and a beta of 1.19. The company has a 50-day moving average of $14.61 and a 200-day moving average of $12.49.
SunCoke Energy Partners (NYSE:SXCP) last released its earnings results on Thursday, July 28th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by $0.19. The business earned $181.40 million during the quarter, compared to analyst estimates of $185.40 million. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. On average, equities analysts expect that SunCoke Energy Partners will post $1.76 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. purchased a new position in shares of SunCoke Energy Partners during the second quarter valued at approximately $2,007,000. ING Groep NV purchased a new position in shares of SunCoke Energy Partners during the first quarter valued at approximately $638,000. Renaissance Technologies LLC purchased a new position in shares of SunCoke Energy Partners during the first quarter valued at approximately $572,000. Geode Capital Management LLC raised its position in shares of SunCoke Energy Partners by 96.7% in the first quarter. Geode Capital Management LLC now owns 81,598 shares of the company’s stock valued at $603,000 after buying an additional 40,106 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of SunCoke Energy Partners by 15.7% in the first quarter. Goldman Sachs Group Inc. now owns 254,632 shares of the company’s stock valued at $1,882,000 after buying an additional 34,466 shares in the last quarter.
About SunCoke Energy Partners
SunCoke Energy Partners, L.P. is engaged primarily in producing coke used in the blast furnace production of steel. The Company also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s segments include Domestic Coke, Coal Logistics, and Corporate and Other. Its Domestic Coke segment consists of the Haverhill Coke Company LLC, Middletown Coke Company, LLC and Gateway Energy and Coke Company, LLC cokemaking and heat recovery operations in Franklin Furnace, Ohio; Middletown, Ohio, and Granite City, Illinois, respectively.
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