SunCoke Energy (NYSE:SXC) Reaches New 1-Year High – Here’s Why

SunCoke Energy, Inc. (NYSE:SXC)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $9.93 and last traded at $9.8150, with a volume of 166865 shares trading hands. The stock had previously closed at $9.69.

Wall Street Analyst Weigh In

SXC has been the subject of a number of recent research reports. Weiss Ratings raised shares of SunCoke Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of SunCoke Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SunCoke Energy presently has a consensus rating of “Reduce” and a consensus target price of $9.00.

SunCoke Energy Trading Up 1.1%

The stock has a market capitalization of $831.40 million, a P/E ratio of -15.30 and a beta of 0.98. The company has a current ratio of 2.25, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $8.72 and a two-hundred day moving average price of $7.72.

SunCoke Energy (NYSE:SXC) last issued its quarterly earnings results on Thursday, July 30th. The energy company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $475.30 million for the quarter, compared to analysts’ expectations of $445.20 million. SunCoke Energy had a positive return on equity of 6.37% and a negative net margin of 2.88%.SunCoke Energy’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.02 earnings per share. On average, analysts expect that SunCoke Energy, Inc. will post 0.32 EPS for the current fiscal year.

SunCoke Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Monday, August 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Monday, August 17th. SunCoke Energy’s dividend payout ratio is presently -75.00%.

Hedge Funds Weigh In On SunCoke Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of SunCoke Energy by 20.3% during the first quarter. Royal Bank of Canada now owns 8,437 shares of the energy company’s stock valued at $55,000 after buying an additional 1,422 shares during the period. Farther Finance Advisors LLC raised its stake in SunCoke Energy by 69.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,831 shares of the energy company’s stock worth $28,000 after buying an additional 1,569 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in SunCoke Energy by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,744 shares of the energy company’s stock worth $458,000 after buying an additional 2,064 shares during the period. EverSource Wealth Advisors LLC boosted its position in SunCoke Energy by 544.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,992 shares of the energy company’s stock valued at $26,000 after acquiring an additional 2,528 shares in the last quarter. Finally, State of Wyoming boosted its position in SunCoke Energy by 7.2% during the 2nd quarter. State of Wyoming now owns 39,273 shares of the energy company’s stock valued at $337,000 after acquiring an additional 2,636 shares in the last quarter. 90.45% of the stock is currently owned by institutional investors and hedge funds.

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.