SunCoke Energy (NYSE:SXC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

SunCoke Energy, Inc. (NYSE:SXC)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Analysts Set New Price Targets

Several research firms have recently commented on SXC. 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 investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $9.00.

SunCoke Energy Price Performance

The stock has a market cap of $789.81 million, a P/E ratio of -14.54 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 2.25. The business has a 50 day simple moving average of $9.38 and a 200-day simple moving average of $8.10.

SunCoke Energy (NYSE:SXC) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $0.15 earnings per share (EPS) 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 the consensus estimate 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 quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 earnings per share. On average, sell-side analysts forecast that SunCoke Energy, Inc. will post 0.32 EPS for the current year.

SunCoke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 17th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.48 dividend on an annualized basis and a yield of 5.2%. SunCoke Energy’s payout ratio is presently -75.00%.

Hedge Funds Weigh In On SunCoke Energy

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in SunCoke Energy in the 2nd quarter worth approximately $72,643,000. Dimensional Fund Advisors LP increased its holdings in shares of SunCoke Energy by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,410,182 shares of the energy company’s stock worth $35,222,000 after purchasing an additional 68,996 shares during the period. Assenagon Asset Management S.A. bought a new position in SunCoke Energy in the 2nd quarter worth about $7,359,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in SunCoke Energy during the second quarter valued at approximately $6,614,000. Finally, Readystate Asset Management LP bought a new stake in SunCoke Energy during the second quarter worth about $5,038,000. 90.45% of the stock is currently owned by institutional investors.

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.