SunCoke Energy (NYSE:SXC) Reaches New 1-Year Low After Earnings Miss

Key Points

• SunCoke Energy's shares have hit a new 52-week low, trading as low as $7.45 after a disappointing earnings report that missed the consensus estimate by $0.13.
• The company announced a quarterly dividend of $0.12 per share, representing a 6.05% dividend yield with a payout ratio of 44.04%.
• Institutional investors hold approximately 90.45% of SunCoke Energy's stock, indicating strong interest and potential stability from larger investors.

SunCoke Energy, Inc. (NYSE:SXC - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $7.45 and last traded at $7.89, with a volume of 228445 shares trading hands. The stock had previously closed at $8.28.

The energy company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.13). SunCoke Energy had a net margin of 3.99% and a return on equity of 10.43%. The business had revenue of $434.10 million during the quarter, compared to analyst estimates of $348.05 million. During the same quarter last year, the company posted $0.25 earnings per share. The company's revenue was down 7.8% on a year-over-year basis.

SunCoke Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.12 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 6.6%. SunCoke Energy's dividend payout ratio is 55.81%.

Hedge Funds Weigh In On SunCoke Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in SunCoke Energy during the fourth quarter worth about $11,841,000. LSV Asset Management grew its stake in SunCoke Energy by 35.1% during the first quarter. LSV Asset Management now owns 2,994,312 shares of the energy company's stock worth $27,548,000 after buying an additional 777,807 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in SunCoke Energy by 73.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,465,691 shares of the energy company's stock worth $15,683,000 after buying an additional 619,532 shares in the last quarter. Jane Street Group LLC grew its stake in SunCoke Energy by 67.1% during the fourth quarter. Jane Street Group LLC now owns 1,111,217 shares of the energy company's stock worth $11,890,000 after buying an additional 446,163 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in SunCoke Energy during the fourth quarter worth about $4,401,000. 90.45% of the stock is currently owned by institutional investors and hedge funds.

SunCoke Energy Price Performance

The stock has a market capitalization of $613.01 million, a price-to-earnings ratio of 8.42 and a beta of 1.10. The business's 50 day simple moving average is $8.32 and its 200-day simple moving average is $8.93. The company has a quick ratio of 1.45, a current ratio of 2.61 and a debt-to-equity ratio of 0.70.

About SunCoke Energy

SunCoke Energy, Inc operates as an independent producer of coke in the Americas and Brazil. The company operates through three segments: Domestic Coke, Brazil Coke, and Logistics. It offers metallurgical and thermal coal. The company also provides handling and/or mixing services to steel, coke, electric utility, coal producing, and other manufacturing based customers.