SunCoke Energy (NYSE:SXC) Shares Break Above 50 Day Moving Average – Here’s Why

SunCoke Energy, Inc. (NYSE:SXC) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $10.04 and traded as high as $10.21. SunCoke Energy shares last traded at $10.1920, with a volume of 1,342,381 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. B. Riley Financial boosted their price target on SunCoke Energy from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Weiss Ratings upgraded SunCoke Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, October 6th. Finally, Wall Street Zen cut SunCoke Energy from a “buy” rating to a “hold” rating in a report on Wednesday, November 4th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, SunCoke Energy has an average rating of “Hold” and an average target price of $11.00.

SunCoke Energy Trading Up 4.0%

The company has a quick ratio of 1.26, a current ratio of 2.03 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average is $10.04 and its two-hundred day moving average is $8.36. The firm has a market cap of $865.10 million, a P/E ratio of -15.68 and a beta of 0.94.

SunCoke Energy (NYSE:SXC) last issued its quarterly earnings data on Tuesday, October 27th. The energy company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.11 by $0.14. SunCoke Energy had a negative net margin of 2.91% and a positive return on equity of 5.68%. The business had revenue of $485.90 million during the quarter, compared to analyst estimates of $456.55 million. During the same period in the prior year, the business earned $0.26 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts predict that SunCoke Energy, Inc. will post 0.45 earnings per share for the current fiscal year.

SunCoke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.7%. SunCoke Energy’s payout ratio is presently -73.85%.

Hedge Funds Weigh In On SunCoke Energy

Institutional investors have recently bought and sold shares of the stock. Royce & Associates LP lifted its holdings in SunCoke Energy by 2.7% in the third quarter. Royce & Associates LP now owns 120,124 shares of the energy company’s stock worth $1,133,000 after buying an additional 3,184 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of SunCoke Energy by 126.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 382,719 shares of the energy company’s stock worth $3,603,000 after acquiring an additional 213,536 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of SunCoke Energy by 4.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 43,221 shares of the energy company’s stock worth $421,000 after acquiring an additional 1,724 shares during the period. Brighton Jones LLC grew its holdings in shares of SunCoke Energy by 33.8% during the 3rd quarter. Brighton Jones LLC now owns 15,412 shares of the energy company’s stock worth $145,000 after acquiring an additional 3,895 shares during the period. Finally, CenterBook Partners LP bought a new position in shares of SunCoke Energy in the 3rd quarter worth approximately $280,000. 90.45% of the stock is owned by institutional investors.

About SunCoke Energy

SunCoke Energy, Inc (NYSE:SXC) is a producer of metallurgical coke, a carbon-based fuel and reducing agent used in blast-furnace steelmaking. The company converts coal into coke through high-temperature processing and captures the resulting heat to generate energy, which can support its facilities and be sold to customers.

SunCoke operates coke-making facilities and related coal-handling, storage and logistics assets, primarily serving integrated steel producers in the United States. Its operations are designed to provide customers with a consistent supply of coke while also generating electricity and recovering other byproducts from the coke-production process.

The company was separated from Sunoco and became a publicly traded company in 2011.