SunCoke Energy (NYSE:SXC) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded SunCoke Energy from “buy” to “hold,” while Weiss Ratings maintained a “sell (D+)” rating. Analysts’ consensus is “Reduce,” with an average price target of $9.00.
• SunCoke shares opened at $9.88, up 1.5%, with a 52-week range of $5.51 to $10.68 and a market capitalization of approximately $838.9 million.
• The company exceeded quarterly expectations, reporting $0.15 EPS versus $0.08 expected and revenue of $475.3 million, up 9.5% year over year. Institutional investors own 90.45% of the stock.

SunCoke Energy (NYSE:SXC - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of SunCoke Energy in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $9.00.

SunCoke Energy Stock Up 1.5%

SXC stock opened at $9.88 on Friday. The firm has a 50 day moving average of $9.61 and a 200 day moving average of $8.36. The stock has a market capitalization of $838.90 million, a PE ratio of -15.44 and a beta of 1.01. The company has a quick ratio of 1.37, a current ratio of 2.25 and a debt-to-equity ratio of 1.07. SunCoke Energy has a 52 week low of $5.51 and a 52 week high of $10.68.

SunCoke Energy (NYSE:SXC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The energy company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.07. The business had revenue of $475.30 million for the quarter, compared to analyst estimates of $445.20 million. SunCoke Energy had a negative net margin of 2.88% and a positive return on equity of 6.37%. SunCoke Energy's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 EPS. Sell-side analysts forecast that SunCoke Energy will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On SunCoke Energy

Several institutional investors have recently made changes to their positions in the company. IFP Advisors Inc grew its position in shares of SunCoke Energy by 126.3% during the 2nd quarter. IFP Advisors Inc now owns 3,259 shares of the energy company's stock valued at $26,000 after acquiring an additional 1,819 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of SunCoke Energy in the 2nd quarter valued at about $29,000. Freestone Grove Partners LP purchased a new position in shares of SunCoke Energy in the 2nd quarter valued at about $29,000. Integrated Wealth Concepts LLC acquired a new position in SunCoke Energy in the 2nd quarter worth about $45,000. Finally, Allworth Financial LP acquired a new position in SunCoke Energy in the 2nd quarter worth about $49,000. 90.45% of the stock is owned by hedge funds and other institutional investors.

About SunCoke Energy

SunCoke Energy, Inc is an independent producer of metallurgical coke, a carbon-based fuel and reducing agent used in blast-furnace steelmaking. The company operates cokemaking facilities in the United States and supplies coke primarily to integrated steel producers under long-term commercial arrangements.

SunCoke's operations use coal as a raw material and employ heat-recovery technology that captures energy generated during the cokemaking process to produce electricity. In addition to coke production, the company provides coal-handling, storage, transloading and terminal services through its logistics operations, supporting the movement of coal and other bulk materials for industrial customers.

SunCoke Energy was formed from the cokemaking operations of Sunoco and became an independent, publicly traded company in 2012.

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