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

Key Points

• SunCoke Energy shares rose 4% and moved above their 50-day moving average of $10.04, trading as high as $10.21.
• The company reported quarterly EPS of $0.25, beating the $0.11 consensus estimate, and revenue of $485.9 million versus expectations of $456.6 million; revenue was down 0.2% year over year.
• Analysts maintain a consensus Hold rating with an $11 average price target. SunCoke also declared a $0.12 quarterly dividend, equivalent to a 4.7% annualized yield.

SunCoke Energy, Inc. (NYSE:SXC - Get Free Report)'s stock price 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 traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SXC. Weiss Ratings raised SunCoke Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, October 6th. Wall Street Zen downgraded shares of SunCoke Energy from a "buy" rating to a "hold" rating in a research note on Wednesday, November 4th. Finally, B. Riley Financial boosted their price objective on shares of SunCoke Energy from $9.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, November 2nd. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $11.00.

SunCoke Energy Stock Up 4.0%

The stock has a market capitalization of $865.10 million, a P/E ratio of -15.68 and a beta of 0.94. The stock has a 50 day moving average price of $10.04 and a 200-day moving average price of $8.36. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.03 and a quick ratio of 1.26.

SunCoke Energy (NYSE:SXC - Get Free Report) last issued its earnings results on Tuesday, October 27th. The energy company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.14. SunCoke Energy had a positive return on equity of 5.68% and a negative net margin of 2.91%. The company had revenue of $485.90 million during the quarter, compared to analysts' expectations of $456.55 million. During the same period in the prior year, the business posted $0.26 EPS. SunCoke Energy's quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts expect that SunCoke Energy, Inc. will post 0.45 EPS for the current fiscal year.

SunCoke Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a $0.12 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $0.48 annualized dividend and a yield of 4.7%. SunCoke Energy's payout ratio is presently -73.85%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of SunCoke Energy in the second quarter worth $72,643,000. Dimensional Fund Advisors LP boosted its position in SunCoke Energy by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,410,182 shares of the energy company's stock valued at $35,222,000 after buying an additional 68,996 shares during the period. Assenagon Asset Management S.A. bought a new stake in SunCoke Energy in the 2nd quarter worth $7,359,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in SunCoke Energy in the 2nd quarter worth $6,614,000. Finally, Readystate Asset Management LP bought a new stake in SunCoke Energy in the 2nd quarter worth $5,038,000. Institutional investors own 90.45% of the company's stock.

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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