SunCoke Energy (NYSE:SXC) Share Price Crosses Above 200 Day Moving Average – What’s Next?

SunCoke Energy, Inc. (NYSE:SXC) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.51 and traded as high as $8.66. SunCoke Energy shares last traded at $8.5950, with a volume of 1,303,734 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded SunCoke Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SunCoke Energy currently has a consensus rating of “Reduce” and an average price target of $9.00.

SunCoke Energy Price Performance

The company has a quick ratio of 1.31, a current ratio of 2.23 and a debt-to-equity ratio of 1.09. The stock’s 50-day moving average price is $8.54 and its 200-day moving average price is $7.52. The company has a market capitalization of $763.90 million, a price-to-earnings ratio of -11.69 and a beta of 0.99.

SunCoke Energy (NYSE:SXC) last issued its quarterly earnings results on Thursday, April 30th. The energy company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). SunCoke Energy had a negative net margin of 3.55% and a positive return on equity of 4.47%. The company had revenue of $455.10 million during the quarter, compared to analyst estimates of $416.15 million. During the same period in the prior year, the business earned $0.20 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts anticipate that SunCoke Energy, Inc. will post 0.2 earnings per share for the current year.

SunCoke Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, May 15th. SunCoke Energy’s dividend payout ratio (DPR) is -62.34%.

Hedge Funds Weigh In On SunCoke Energy

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in SunCoke Energy in the second quarter valued at about $7,359,000. Bank of America Corp DE raised its holdings in SunCoke Energy by 21.0% during the 1st quarter. Bank of America Corp DE now owns 371,770 shares of the energy company’s stock worth $2,420,000 after purchasing an additional 64,441 shares during the last quarter. Royal Bank of Canada lifted its position in SunCoke Energy by 20.3% during the 1st quarter. Royal Bank of Canada now owns 8,437 shares of the energy company’s stock valued at $55,000 after purchasing an additional 1,422 shares during the period. Empowered Funds LLC lifted its position in SunCoke Energy by 16.2% during the 1st quarter. Empowered Funds LLC now owns 474,814 shares of the energy company’s stock valued at $3,091,000 after purchasing an additional 66,076 shares during the period. Finally, Weiss Asset Management LP bought a new position in shares of SunCoke Energy in the 1st quarter valued at about $1,198,000. Institutional investors and hedge funds own 90.45% of the company’s stock.

SunCoke Energy Company Profile

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.