SunCoke Energy (SXC) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of SunCoke Energy (NYSE:SXC) from a hold rating to a buy rating in a research report sent to investors on Friday. The brokerage currently has $11.00 price objective on the energy company’s stock.
According to Zacks, “SunCoke Energy, Inc is a producer of metallurgical coke in the Americas. The Company acquires, owns, and operates the coke making and coal mining operations. Its coke making facilities are in the United States and Brazil. “
SXC has been the topic of several other research reports. B. Riley reiterated a buy rating on shares of SunCoke Energy in a research report on Wednesday, November 1st. Clarkson Capital upgraded shares of SunCoke Energy from a neutral rating to a buy rating in a research report on Friday. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $11.00.
SunCoke Energy (NYSE:SXC) last issued its quarterly earnings results on Wednesday, January 31st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). The company had revenue of $359.60 million for the quarter, compared to analyst estimates of $353.60 million. SunCoke Energy had a return on equity of 3.13% and a net margin of 9.19%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. analysts forecast that SunCoke Energy will post 0.12 earnings per share for the current year.
In related news, insider Phillip Michael Hardesty sold 4,444 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $11.37, for a total transaction of $50,528.28. Following the transaction, the insider now owns 70,161 shares in the company, valued at approximately $797,730.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.85% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in SunCoke Energy by 2.4% during the 4th quarter. BlackRock Inc. now owns 8,444,996 shares of the energy company’s stock worth $101,256,000 after buying an additional 193,985 shares in the last quarter. Vanguard Group Inc. lifted its position in SunCoke Energy by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,936,265 shares of the energy company’s stock worth $53,804,000 after buying an additional 82,674 shares in the last quarter. Boston Partners lifted its position in SunCoke Energy by 28.5% during the 4th quarter. Boston Partners now owns 4,594,984 shares of the energy company’s stock valued at $55,094,000 after purchasing an additional 1,019,796 shares during the period. JPMorgan Chase & Co. lifted its position in SunCoke Energy by 81.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,711,619 shares of the energy company’s stock valued at $15,353,000 after purchasing an additional 767,312 shares during the period. Finally, Northern Trust Corp lifted its position in SunCoke Energy by 0.6% during the 2nd quarter. Northern Trust Corp now owns 764,495 shares of the energy company’s stock valued at $8,334,000 after purchasing an additional 4,675 shares during the period. Institutional investors and hedge funds own 92.94% of the company’s stock.
SunCoke Energy Company Profile
SunCoke Energy, Inc is a producer of coke in the Americas. The Company’s segments include Domestic Coke, Brazil Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell Coke Company, L.P. (Jewell), Indiana Harbor Coke Company (Indiana Harbor), Haverhill Coke Company LLC (Haverhill), Gateway Energy and Coke Company, LLC (Granite City) and Middletown Coke Company, LLC (Middletown) cokemaking and heat recovery operations.
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