SunCoke Energy (NYSE:SXC) Shares Break Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• SunCoke Energy shares broke above their 200-day moving average, reaching $10.02 before closing near $9.72, compared with the average of $8.22.
• Analyst sentiment remains cautious: the consensus rating is “Reduce” with a $9.00 target price, despite one firm upgrading the stock to “Buy.”
• The company exceeded quarterly earnings and revenue estimates, while maintaining a $0.12 quarterly dividend, equivalent to a 4.9% annualized yield.

SunCoke Energy, Inc. (NYSE:SXC - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $8.22 and traded as high as $10.02. SunCoke Energy shares last traded at $9.7150, with a volume of 1,136,799 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SXC shares. Wall Street Zen raised shares of SunCoke Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a "sell (d+)" rating on shares of SunCoke Energy in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $9.00.

SunCoke Energy Price Performance

The company has a 50 day simple moving average of $9.50 and a 200-day simple moving average of $8.22. The stock has a market cap of $824.61 million, a price-to-earnings ratio of -15.18 and a beta of 1.02. 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 (NYSE:SXC - Get Free Report) last issued its earnings results on Thursday, July 30th. The energy company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. SunCoke Energy had a positive return on equity of 6.37% and a negative net margin of 2.88%.The company had revenue of $475.30 million during the quarter, compared to analyst estimates of $445.20 million. During the same quarter last year, the firm earned $0.02 EPS. The business's revenue was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that SunCoke Energy, Inc. will post 0.32 EPS for the current fiscal year.

SunCoke Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 17th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, August 17th. SunCoke Energy's payout ratio is currently -75.00%.

Institutional Trading of SunCoke Energy

A number of institutional investors and hedge funds have recently modified their holdings of SXC. Royal Bank of Canada raised its stake in SunCoke Energy by 20.3% during the 1st quarter. Royal Bank of Canada now owns 8,437 shares of the energy company's stock valued at $55,000 after purchasing an additional 1,422 shares during the period. IFP Advisors Inc boosted its position in shares of SunCoke Energy by 126.3% in the second quarter. IFP Advisors Inc now owns 3,259 shares of the energy company's stock worth $26,000 after buying an additional 1,819 shares during the period. Squarepoint Ops LLC boosted its position in shares of SunCoke Energy by 0.6% in the second quarter. Squarepoint Ops LLC now owns 487,204 shares of the energy company's stock worth $3,922,000 after buying an additional 3,007 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of SunCoke Energy during the second quarter valued at $29,000. Finally, Freestone Grove Partners LP purchased a new position in shares of SunCoke Energy during the second quarter valued at $29,000. 90.45% of the stock is owned by institutional investors and hedge funds.

SunCoke Energy Company Profile

SunCoke Energy, Inc is an independent producer of metallurgical coke, a carbon-based material used by integrated steelmakers in blast-furnace steel production. The company operates coke-making facilities that convert coal into coke while capturing and using the heat generated during the process to produce electricity and steam.

In addition to coke production, SunCoke provides coal-handling and logistics services. Its operations include coal terminals, blending and handling facilities, and other infrastructure that supports the movement of coal and coke for steel and industrial customers.

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