Zacks Investment Research cut shares of SunCoke Energy, Inc. (NYSE:SXC) from a hold rating to a sell rating in a research note released on Friday morning.
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. “
Separately, BidaskClub lowered shares of SunCoke Energy from a hold rating to a sell rating in a research note on Friday, July 28th.
Shares of SunCoke Energy (SXC) traded down 1.228% during midday trading on Friday, hitting $8.445. The stock had a trading volume of 394,574 shares. The firm has a 50 day moving average of $10.30 and a 200-day moving average of $9.49. SunCoke Energy has a one year low of $6.28 and a one year high of $13.14. The company’s market cap is $543.26 million.
SunCoke Energy (NYSE:SXC) last posted its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.07) EPS for the quarter, beating the Zacks’ 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 analyst estimates of $347.90 million. During the same quarter last year, the business earned ($0.07) earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts forecast that SunCoke Energy will post ($0.34) earnings per share for the current fiscal year.
In other SunCoke Energy news, major shareholder Mangrove Partners Fund (Cayman sold 86,605 shares of SunCoke Energy stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $11.00, for a total value of $952,655.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary P. Yeaw purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was acquired at an average price of $8.08 per share, for a total transaction of $80,800.00. Following the transaction, the insider now owns 40,973 shares of the company’s stock, valued at approximately $331,061.84. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 850,551 shares of company stock worth $9,415,508. 3.85% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners acquired a new position in SunCoke Energy during the first quarter valued at about $26,889,000. Vanguard Group Inc. raised its position in SunCoke Energy by 25.9% in the first quarter. Vanguard Group Inc. now owns 4,853,591 shares of the energy company’s stock valued at $43,488,000 after buying an additional 999,209 shares during the period. Gendell Jeffrey L raised its position in SunCoke Energy by 99.4% in the first quarter. Gendell Jeffrey L now owns 1,963,258 shares of the energy company’s stock valued at $17,591,000 after buying an additional 978,441 shares during the period. Nuveen Asset Management LLC acquired a new position in SunCoke Energy during the first quarter valued at about $7,161,000. Finally, State Street Corp raised its position in SunCoke Energy by 16.9% in the first quarter. State Street Corp now owns 3,062,681 shares of the energy company’s stock valued at $27,445,000 after buying an additional 443,774 shares during the period. Hedge funds and other institutional investors own 96.90% of the company’s stock.
About SunCoke Energy
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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