StockNews.com Downgrades SunCoke Energy (NYSE:SXC) to Buy

StockNews.com downgraded shares of SunCoke Energy (NYSE:SXC) from a strong-buy rating to a buy rating in a report released on Friday morning.

Separately, Benchmark reaffirmed a buy rating and issued a $12.00 price objective on shares of SunCoke Energy in a research note on Thursday, May 2nd.

SunCoke Energy Trading Down 0.3 %

Shares of SXC stock opened at $10.28 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.16 and a current ratio of 2.06. The stock has a fifty day simple moving average of $10.80 and a two-hundred day simple moving average of $10.31. The firm has a market capitalization of $864.24 million, a PE ratio of 14.48 and a beta of 1.19. SunCoke Energy has a 52-week low of $6.71 and a 52-week high of $11.48.

SunCoke Energy (NYSE:SXC) last released its earnings results on Wednesday, May 1st. The energy company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. SunCoke Energy had a return on equity of 9.48% and a net margin of 2.97%. The firm had revenue of $488.40 million during the quarter, compared to analysts’ expectations of $549.40 million. During the same quarter last year, the business posted $0.19 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. On average, analysts predict that SunCoke Energy will post 0.86 EPS for the current fiscal year.

SunCoke Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.89%. SunCoke Energy’s dividend payout ratio (DPR) is presently 56.34%.

Insider Activity at SunCoke Energy

In other SunCoke Energy news, CEO Michael G. Rippey sold 48,618 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $10.93, for a total transaction of $531,394.74. Following the sale, the chief executive officer now directly owns 763,409 shares of the company’s stock, valued at $8,344,060.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael G. Rippey sold 48,618 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $10.93, for a total value of $531,394.74. Following the completion of the sale, the chief executive officer now directly owns 763,409 shares of the company’s stock, valued at approximately $8,344,060.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael G. Rippey sold 78,714 shares of SunCoke Energy stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $11.06, for a total value of $870,576.84. Following the completion of the transaction, the chief executive officer now owns 342,359 shares of the company’s stock, valued at approximately $3,786,490.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,572 shares of company stock valued at $2,781,834. Insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On SunCoke Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new position in SunCoke Energy during the 3rd quarter valued at about $30,000. Millburn Ridgefield Corp bought a new stake in SunCoke Energy in the third quarter worth about $30,000. GAMMA Investing LLC purchased a new position in shares of SunCoke Energy during the fourth quarter valued at approximately $31,000. AJOVista LLC bought a new position in shares of SunCoke Energy during the fourth quarter valued at approximately $77,000. Finally, Optas LLC purchased a new stake in shares of SunCoke Energy in the fourth quarter worth approximately $108,000. Hedge funds and other institutional investors own 90.45% of the company’s stock.

About SunCoke Energy

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.