SunCoke Energy (NYSE:SXC) Shares Gap Up After Earnings Beat

Shares of SunCoke Energy, Inc. (NYSE:SXC) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $8.62, but opened at $9.60. SunCoke Energy shares last traded at $9.76, with a volume of 236,054 shares changing hands.

The energy company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.13. The firm had revenue of $490.10 million for the quarter, compared to the consensus estimate of $412.70 million. SunCoke Energy had a return on equity of 12.95% and a net margin of 4.37%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS.

SunCoke Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.48 dividend on an annualized basis and a yield of 4.88%. SunCoke Energy’s dividend payout ratio is currently 48.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded SunCoke Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th.

Institutional Investors Weigh In On SunCoke Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of SunCoke Energy by 1.1% in the first quarter. Vanguard Group Inc. now owns 6,843,301 shares of the energy company’s stock worth $77,124,000 after purchasing an additional 77,649 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of SunCoke Energy by 3.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,708,272 shares of the energy company’s stock valued at $46,141,000 after buying an additional 139,971 shares in the last quarter. American Century Companies Inc. boosted its holdings in SunCoke Energy by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 2,512,292 shares of the energy company’s stock worth $24,620,000 after buying an additional 292,050 shares during the period. LSV Asset Management raised its holdings in SunCoke Energy by 2.4% during the first quarter. LSV Asset Management now owns 2,099,317 shares of the energy company’s stock valued at $23,659,000 after acquiring an additional 49,800 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in shares of SunCoke Energy by 2.1% in the first quarter. Bridgeway Capital Management LLC now owns 1,479,685 shares of the energy company’s stock valued at $16,676,000 after acquiring an additional 30,790 shares in the last quarter. 90.45% of the stock is owned by hedge funds and other institutional investors.

SunCoke Energy Stock Down 4.7 %

The firm has a market capitalization of $826.60 million, a PE ratio of 9.83 and a beta of 1.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.22 and a quick ratio of 1.19. The company has a 50-day moving average price of $8.51 and a 200 day moving average price of $9.52.

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.