SunCoke Energy Inc. (NYSE:SXC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday.
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. “
Shares of SunCoke Energy (NYSE:SXC) opened at 7.45 on Tuesday. The stock’s market cap is $478.13 million. SunCoke Energy has a 1-year low of $2.05 and a 1-year high of $8.21. The firm has a 50-day moving average of $7.19 and a 200 day moving average of $6.75.
SunCoke Energy (NYSE:SXC) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.05. The firm earned $292.70 million during the quarter, compared to analysts’ expectations of $286.20 million. SunCoke Energy had a negative net margin of 1.02% and a positive return on equity of 0.95%. SunCoke Energy’s revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) EPS. Equities research analysts forecast that SunCoke Energy will post $0.06 earnings per share for the current year.
In related news, major shareholder Mangrove Partners Fund (Cayman bought 291,478 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were purchased at an average price of $6.98 per share, with a total value of $2,034,516.44. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.27% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. raised its stake in shares of SunCoke Energy by 1.5% in the third quarter. Eqis Capital Management Inc. now owns 15,063 shares of the company’s stock worth $121,000 after buying an additional 224 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of SunCoke Energy during the first quarter worth $103,000. Public Employees Retirement System of Ohio raised its stake in shares of SunCoke Energy by 23.5% in the second quarter. Public Employees Retirement System of Ohio now owns 17,992 shares of the company’s stock worth $105,000 after buying an additional 3,427 shares during the last quarter. Martingale Asset Management L P bought a new stake in shares of SunCoke Energy during the second quarter worth $114,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of SunCoke Energy by 110.7% in the second quarter. BNP Paribas Arbitrage SA now owns 19,770 shares of the company’s stock worth $115,000 after buying an additional 10,386 shares during the last quarter. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
SunCoke Energy Company Profile
SunCoke Energy, Inc is an independent producer of coke in the Americas. The Company also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s segments include Domestic Coke, Brazil Coke, India Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell, Indiana Harbor, Haverhill, Granite City and Middletown cokemaking and heat recovery operations located in Vansant, Virginia; East Chicago, Indiana; Franklin Furnace, Ohio; Granite City, Illinois, and Middletown, Ohio, respectively.
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