SunCoke Energy, Inc. (NYSE:SXC) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of SunCoke Energy, Inc. (NYSE:SXC) from a buy rating to a hold rating in a research note issued to investors on Thursday, July 20th.

According to Zacks, “SunCoke Energy, Inc is a producer of metallurgical coke in the Americas. The Company acquires, owns, and operates the coke making and coal mining operations. Its coke making facilities are in the United States and Brazil. “

SunCoke Energy (SXC) traded up 2.34% during mid-day trading on Thursday, hitting $8.74. 419,024 shares of the stock traded hands. The company’s market cap is $562.24 million. The stock’s 50 day moving average is $9.96 and its 200-day moving average is $9.35. SunCoke Energy has a 12 month low of $6.28 and a 12 month high of $13.14.

SunCoke Energy (NYSE:SXC) last released its earnings results on Thursday, July 27th. The energy company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.07. SunCoke Energy had a negative net margin of 0.01% and a positive return on equity of 3.27%. The business had revenue of $323.20 million for the quarter, compared to the consensus estimate of $347.90 million. During the same period last year, the firm posted ($0.07) earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that SunCoke Energy will post ($0.34) EPS for the current year.

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In other SunCoke Energy news, major shareholder Mangrove Partners Fund (Cayman sold 215,157 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $11.01, for a total value of $2,368,878.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Mangrove Partners Master Fund, sold 41,131 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $11.01, for a total transaction of $452,852.31. The disclosure for this sale can be found here. Insiders have sold 850,551 shares of company stock worth $9,415,508 over the last ninety days. 3.85% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of SXC. Comerica Bank boosted its stake in shares of SunCoke Energy by 5.1% in the fourth quarter. Comerica Bank now owns 68,397 shares of the energy company’s stock worth $780,000 after buying an additional 3,334 shares during the last quarter. State Street Corp boosted its stake in shares of SunCoke Energy by 1.4% in the fourth quarter. State Street Corp now owns 2,618,907 shares of the energy company’s stock worth $29,702,000 after buying an additional 37,072 shares during the last quarter. Federated Investors Inc. PA bought a new position in SunCoke Energy during the fourth quarter valued at approximately $514,000. Allianz Asset Management AG bought a new position in SunCoke Energy during the fourth quarter valued at approximately $188,000. Finally, New York State Teachers Retirement System boosted its position in SunCoke Energy by 14.2% in the fourth quarter. New York State Teachers Retirement System now owns 47,481 shares of the energy company’s stock valued at $538,000 after buying an additional 5,900 shares during the last quarter. Institutional investors and hedge funds own 98.12% of the company’s stock.

SunCoke Energy Company Profile

SunCoke Energy, Inc is a producer of coke in the Americas. The Company’s segments include Domestic Coke, Brazil Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell Coke Company, L.P. (Jewell), Indiana Harbor Coke Company (Indiana Harbor), Haverhill Coke Company LLC (Haverhill), Gateway Energy and Coke Company, LLC (Granite City) and Middletown Coke Company, LLC (Middletown) cokemaking and heat recovery operations.

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