SunCoke Energy (NYSE:SXC) Hits New 52-Week High - Here's Why

Key Points

• SunCoke Energy shares reached a new 52-week high, trading as high as $10.40 and up 2.6%, well above their 50-day and 200-day moving averages.
• The company beat quarterly earnings and revenue expectations, reporting $0.15 in EPS versus $0.08 expected and $475.3 million in revenue, up 9.5% year over year.
• Despite the strong results and a recently declared $0.12 quarterly dividend yielding about 4.6%, analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $9.00.

SunCoke Energy, Inc. (NYSE:SXC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.40 and last traded at $10.2970, with a volume of 877636 shares trading hands. The stock had previously closed at $10.16.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SXC. Wall Street Zen raised SunCoke Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of SunCoke Energy from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, June 11th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SunCoke Energy presently has a consensus rating of "Reduce" and an average price target of $9.00.

SunCoke Energy Trading Up 2.6%

The stock's fifty day simple moving average is $8.83 and its 200-day simple moving average is $7.78. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.25 and a quick ratio of 1.37. The firm has a market cap of $884.53 million, a PE ratio of -16.25 and a beta of 0.98.

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

SunCoke Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Monday, August 17th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, August 17th. SunCoke Energy's payout ratio is presently -75.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its position in SunCoke Energy by 20.3% during the first quarter. Royal Bank of Canada now owns 8,437 shares of the energy company's stock valued at $55,000 after buying an additional 1,422 shares during the period. Farther Finance Advisors LLC raised its position in shares of SunCoke Energy by 69.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,831 shares of the energy company's stock worth $28,000 after acquiring an additional 1,569 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SunCoke Energy by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,744 shares of the energy company's stock worth $458,000 after acquiring an additional 2,064 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of SunCoke Energy by 544.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,992 shares of the energy company's stock worth $26,000 after acquiring an additional 2,528 shares in the last quarter. Finally, State of Wyoming grew its position in shares of SunCoke Energy by 7.2% during the 2nd quarter. State of Wyoming now owns 39,273 shares of the energy company's stock valued at $337,000 after acquiring an additional 2,636 shares during the period. 90.45% of the stock is owned by institutional investors and hedge funds.

SunCoke Energy Company Profile

SunCoke Energy, Inc is a leading independent producer of metallurgical coke and related products for the steel and foundry industries. The company specializes in manufacturing both blast furnace coke and foundry coke, offering high‐quality, low‐sulfur coal products that serve as essential inputs in steelmaking and metal casting processes. In addition to coke production, SunCoke provides comprehensive engineering, maintenance and environmental solutions tailored to the needs of integrated steel mills and foundries.

The company operates a network of coke production facilities across the United States, including plants in Indiana, Ohio, West Virginia and Louisiana.

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