SunCoke Energy (NYSE:SXC) Shares Gap Down on Disappointing Earnings

Shares of SunCoke Energy, Inc. (NYSE:SXC) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $7.99, but opened at $6.89. SunCoke Energy shares last traded at $6.8850, with a volume of 422,687 shares.

The energy company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($1.10). The company had revenue of $480.20 million during the quarter, compared to the consensus estimate of $437.45 million. SunCoke Energy had a return on equity of 9.11% and a net margin of 3.53%.The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share.

SunCoke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Tuesday, February 17th. SunCoke Energy’s dividend payout ratio (DPR) is currently 63.16%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. B. Riley Financial cut their price target on SunCoke Energy from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SunCoke Energy in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Hedge Funds Weigh In On SunCoke Energy

A number of large investors have recently modified their holdings of SXC. Royal Bank of Canada raised its position in SunCoke Energy by 13.8% during the 1st quarter. Royal Bank of Canada now owns 35,957 shares of the energy company’s stock valued at $330,000 after purchasing an additional 4,358 shares during the last quarter. AQR Capital Management LLC boosted its position in SunCoke Energy by 86.3% in the first quarter. AQR Capital Management LLC now owns 366,537 shares of the energy company’s stock worth $3,372,000 after purchasing an additional 169,813 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of SunCoke Energy by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,744 shares of the energy company’s stock worth $458,000 after purchasing an additional 2,064 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of SunCoke Energy by 70.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 27,962 shares of the energy company’s stock worth $257,000 after purchasing an additional 11,580 shares during the period. Finally, CWM LLC boosted its stake in SunCoke Energy by 260.0% in the 2nd quarter. CWM LLC now owns 19,878 shares of the energy company’s stock worth $171,000 after purchasing an additional 14,356 shares during the period. 90.45% of the stock is owned by hedge funds and other institutional investors.

SunCoke Energy Stock Down 11.5%

The business has a 50-day moving average of $7.70 and a 200 day moving average of $7.61. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.12 and a quick ratio of 1.17. The company has a market capitalization of $598.87 million, a PE ratio of 9.20 and a beta of 0.98.

About SunCoke Energy

SunCoke Energy, Inc is a leading independent producer of metallurgical coke and related products for the steel and foundry industries. The company specializes in manufacturing both blast furnace coke and foundry coke, offering high?quality, low?sulfur coal products that serve as essential inputs in steelmaking and metal casting processes. In addition to coke production, SunCoke provides comprehensive engineering, maintenance and environmental solutions tailored to the needs of integrated steel mills and foundries.

The company operates a network of coke production facilities across the United States, including plants in Indiana, Ohio, West Virginia and Louisiana.