StockNews.com Upgrades SunCoke Energy (NYSE:SXC) to “Buy”

StockNews.com upgraded shares of SunCoke Energy (NYSE:SXC) from a hold rating to a buy rating in a research report report published on Wednesday morning.

SunCoke Energy Stock Performance

Shares of NYSE:SXC opened at $8.76 on Wednesday. The business has a 50-day moving average of $8.49 and a two-hundred day moving average of $9.66. The firm has a market capitalization of $736.63 million, a PE ratio of 12.17 and a beta of 1.04. SunCoke Energy has a 12 month low of $7.47 and a 12 month high of $11.85. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.22 and a quick ratio of 1.19.

SunCoke Energy (NYSE:SXC) last released its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. SunCoke Energy had a net margin of 3.11% and a return on equity of 9.56%. The company had revenue of $470.90 million during the quarter, compared to the consensus estimate of $410.35 million. During the same period in the previous year, the firm earned $0.24 earnings per share. SunCoke Energy’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, research analysts forecast that SunCoke Energy will post 0.94 earnings per share for the current year.

SunCoke Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a $0.12 dividend. This is an increase from SunCoke Energy’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 5.48%. SunCoke Energy’s dividend payout ratio is presently 66.67%.

Institutional Investors Weigh In On SunCoke Energy

Several hedge funds have recently modified their holdings of SXC. nVerses Capital LLC grew its position in SunCoke Energy by 488.9% in the third quarter. nVerses Capital LLC now owns 5,300 shares of the energy company’s stock valued at $46,000 after acquiring an additional 4,400 shares in the last quarter. Innealta Capital LLC purchased a new stake in SunCoke Energy during the 2nd quarter worth $70,000. Algert Global LLC acquired a new position in SunCoke Energy in the 2nd quarter worth $107,000. Retirement Investment Advisors Inc. acquired a new stake in shares of SunCoke Energy during the second quarter valued at about $110,000. Finally, Beacon Bridge Wealth Partners LLC purchased a new stake in shares of SunCoke Energy during the second quarter worth about $111,000. 90.45% of the stock is currently owned by hedge funds and other institutional investors.

SunCoke Energy Company Profile

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.