SunCoke Energy (NYSE:SXC) Sets New 12-Month High Following Better-Than-Expected Earnings

Key Points

• SunCoke Energy shares reached a new 52-week high, rising to $11.12 after the company reported quarterly EPS of $0.25, well above the $0.11 analyst consensus. Revenue of $485.9 million also exceeded expectations of $456.55 million.
• The company declared a quarterly dividend of $0.12 per share, equivalent to an annualized $0.48 dividend and a 4.4% yield.
• Analyst sentiment remains cautious despite the earnings beat: the consensus rating is “Hold” with an average price target of $9.00, while institutional investors own 90.45% of the stock.

SunCoke Energy, Inc. (NYSE:SXC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $11.12 and last traded at $10.86, with a volume of 151,686 shares trading hands. The stock had previously closed at $9.81.

The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.14. The firm had revenue of $485.90 million for the quarter, compared to analysts' expectations of $456.55 million. SunCoke Energy had a positive return on equity of 6.37% and a negative net margin of 2.88%. SunCoke Energy's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share.

SunCoke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Monday, August 17th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.4%. SunCoke Energy's payout ratio is currently -75.00%.

Analyst Ratings Changes

SXC has been the subject of several analyst reports. Wall Street Zen upgraded SunCoke Energy from a "hold" rating to a "buy" rating in a research report on Tuesday. Weiss Ratings raised shares of SunCoke Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, October 6th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.00.

Institutional Trading of SunCoke Energy

Several institutional investors and hedge funds have recently bought and sold shares of SXC. IFP Advisors Inc lifted its holdings in SunCoke Energy by 126.3% in the second 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 stake in SunCoke Energy during the 2nd quarter valued at $29,000. Freestone Grove Partners LP bought a new stake in shares of SunCoke Energy during the 2nd quarter worth approximately $29,000. Integrated Wealth Concepts LLC bought a new position in shares of SunCoke Energy in the second quarter worth about $45,000. Finally, Fortitude Family Office LLC increased its holdings in SunCoke Energy by 9,788.5% during the 3rd quarter. Fortitude Family Office LLC now owns 6,032 shares of the energy company's stock worth $57,000 after purchasing an additional 5,971 shares during the period. 90.45% of the stock is currently owned by hedge funds and other institutional investors.

SunCoke Energy Price Performance

The firm has a fifty day moving average of $9.86 and a two-hundred day moving average of $8.23. The stock has a market capitalization of $924.29 million, a P/E ratio of -16.95 and a beta of 1.01. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.25 and a quick ratio of 1.37.

SunCoke Energy Company Profile

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.

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