SunCoke Energy, Inc. to Issue Quarterly Dividend of $0.12 (NYSE:SXC)

Key Points

• SunCoke Energy declared a quarterly dividend of $0.12 per share, payable September 2 to shareholders of record on August 17. The annualized dividend is $0.48 per share, representing a 5.7% yield.
• Second-quarter earnings came in at $0.15 per share, beating analyst estimates of $0.08, while revenue reached $475.3 million and increased 9.5% year over year.
• Although the current payout ratio is 70.6% and the dividend has risen for four consecutive years, analysts expect a loss next year, raising concerns about the dividend’s future coverage.

SunCoke Energy, Inc. (NYSE:SXC - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Monday, August 17th will be paid a dividend of 0.12 per share by the energy company on Wednesday, September 2nd. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Monday, August 17th.

SunCoke Energy has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. SunCoke Energy has a dividend payout ratio of 70.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SunCoke Energy to earn ($0.19) per share next year, which means the company may not be able to cover its $0.48 annual dividend with an expected future payout ratio of -252.6%.

SunCoke Energy Stock Performance

SXC stock traded down $0.94 during midday trading on Thursday, hitting $8.42. 4,851,357 shares of the company traded hands, compared to its average volume of 1,632,896. SunCoke Energy has a twelve month low of $5.51 and a twelve month high of $9.73. The stock has a market capitalization of $714.29 million, a price-to-earnings ratio of -10.93 and a beta of 0.99. The company has a quick ratio of 1.31, a current ratio of 2.23 and a debt-to-equity ratio of 1.09. The business has a 50 day simple moving average of $8.67 and a 200-day simple moving average of $7.58.

SunCoke Energy (NYSE:SXC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $475.30 million during the quarter, compared to analysts' expectations of $445.20 million. SunCoke Energy had a negative net margin of 3.55% and a positive return on equity of 4.47%. SunCoke Energy's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share. As a group, equities research analysts predict that SunCoke Energy will post 0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in shares of SunCoke Energy by 544.8% in the second 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 during the last quarter. Farther Finance Advisors LLC boosted its holdings in SunCoke Energy by 69.4% in the 4th quarter. Farther Finance Advisors LLC now owns 3,831 shares of the energy company's stock valued at $28,000 after purchasing an additional 1,569 shares during the period. Signaturefd LLC grew its position in SunCoke Energy by 44.9% in the 4th quarter. Signaturefd LLC now owns 4,256 shares of the energy company's stock worth $31,000 after purchasing an additional 1,318 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of SunCoke Energy by 176.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,615 shares of the energy company's stock worth $48,000 after purchasing an additional 3,582 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of SunCoke Energy by 20.3% during the 1st quarter. Royal Bank of Canada now owns 8,437 shares of the energy company's stock worth $55,000 after purchasing an additional 1,422 shares during the period. 90.45% of the stock is currently 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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