BidaskClub Lowers SunCoke Energy, Inc. (NYSE:SXC) to Sell
BidaskClub downgraded shares of SunCoke Energy, Inc. (NYSE:SXC) from a hold rating to a sell rating in a report issued on Friday morning.
Separately, Zacks Investment Research downgraded shares of SunCoke Energy from a buy rating to a hold rating in a report on Thursday, July 20th.
Shares of SunCoke Energy (SXC) traded down 4.69% during trading on Friday, hitting $8.53. 380,771 shares of the stock were exchanged. SunCoke Energy has a 12-month low of $6.28 and a 12-month high of $13.14. The stock’s market cap is $548.73 million. The stock has a 50-day moving average of $10.34 and a 200 day moving average of $9.51.
SunCoke Energy (NYSE:SXC) last announced its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, beating 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 company had revenue of $323.20 million during the quarter, compared to the consensus estimate of $347.90 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities analysts predict that SunCoke Energy will post ($0.03) earnings per share for the current fiscal year.
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In related news, major shareholder Mangrove Partners Master Fund, sold 41,131 shares of SunCoke Energy stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $11.01, for a total transaction of $452,852.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Mangrove Partners Fund (Cayman sold 5,530 shares of SunCoke Energy stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $11.00, for a total transaction of $60,830.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 850,551 shares of company stock worth $9,415,508. Company insiders own 3.85% of the company’s stock.
Several large investors have recently modified their holdings of SXC. Comerica Bank boosted its stake in shares of SunCoke Energy by 3.7% in the first quarter. Comerica Bank now owns 70,916 shares of the energy company’s stock worth $661,000 after buying an additional 2,519 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of SunCoke Energy by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 839,705 shares of the energy company’s stock worth $7,525,000 after buying an additional 24,046 shares in the last quarter. Boston Partners bought a new stake in shares of SunCoke Energy during the first quarter worth $26,889,000. Eqis Capital Management Inc. boosted its stake in shares of SunCoke Energy by 22.6% in the first quarter. Eqis Capital Management Inc. now owns 18,872 shares of the energy company’s stock worth $169,000 after buying an additional 3,473 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in shares of SunCoke Energy by 30.2% in the first quarter. Wedge Capital Management L L P NC now owns 22,659 shares of the energy company’s stock worth $203,000 after buying an additional 5,252 shares in the last quarter. Institutional investors and hedge funds own 97.17% 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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