SunCoke Energy (NYSE:SXC) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• SunCoke Energy shares crossed above their 200-day moving average, reaching $9.72 before trading at $9.5850, compared with the $8.07 long-term average.
• Analyst sentiment remains cautious: the stock carries an average “Reduce” rating and a $9.00 consensus price target, despite one recent upgrade from Hold to Buy.
• The company beat quarterly earnings expectations with $0.15 EPS versus $0.08 forecast and $475.3 million in revenue, while maintaining a quarterly dividend of $0.12, equivalent to a 5.0% annual yield.

SunCoke Energy, Inc. (NYSE:SXC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.07 and traded as high as $9.72. SunCoke Energy shares last traded at $9.5850, with a volume of 788,867 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of SunCoke Energy in a research note on Tuesday, September 8th. Wall Street Zen raised shares of SunCoke Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One 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 presently has an average rating of "Reduce" and a consensus price target of $9.00.

SunCoke Energy Price Performance

The stock has a market capitalization of $813.57 million, a P/E ratio of -14.98 and a beta of 1.02. The business's 50 day simple moving average is $9.34 and its two-hundred day simple moving average is $8.07. 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 posted its earnings results on Thursday, July 30th. The energy company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. The company 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%. The firm's revenue 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. As a group, sell-side analysts forecast that SunCoke Energy, Inc. will post 0.32 earnings per share for the current fiscal year.

SunCoke Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Monday, August 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.48 annualized dividend and a dividend yield of 5.0%. SunCoke Energy's dividend payout ratio is -75.00%.

Hedge Funds Weigh In On SunCoke Energy

A number of hedge funds and other institutional investors have recently modified their holdings of SXC. IFP Advisors Inc raised its stake 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 worth $26,000 after purchasing an additional 1,819 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in SunCoke Energy during the second quarter valued at about $29,000. Freestone Grove Partners LP bought a new position in SunCoke Energy during the second quarter valued at about $29,000. Integrated Wealth Concepts LLC purchased a new stake in SunCoke Energy during the second quarter worth about $45,000. Finally, Allworth Financial LP purchased a new stake in SunCoke Energy during the second quarter worth about $49,000. Hedge funds and other institutional investors own 90.45% of the company's stock.

About SunCoke Energy

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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