SunCoke Energy (NYSE:SXC) Stock Gets Downgrade from Wall Street Zen

SunCoke Energy (NYSE:SXC) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of SunCoke Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, October 6th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, SunCoke Energy currently has an average rating of “Hold” and a consensus target price of $9.00.

SunCoke Energy Trading Down 4.7%

Shares of NYSE:SXC opened at $9.84 on Monday. SunCoke Energy has a 52-week low of $5.51 and a 52-week high of $10.68. The company has a market capitalization of $834.75 million, a P/E ratio of -15.37 and a beta of 1.01. The company has a 50-day simple moving average of $9.84 and a 200 day simple moving average of $8.69. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 2.25.

SunCoke Energy (NYSE:SXC) last announced its quarterly earnings results on Thursday, July 30th. The energy company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. SunCoke Energy had a positive return on equity of 6.37% and a negative net margin of 2.88%. The business had revenue of $475.30 million during the quarter, compared to the consensus estimate of $445.20 million. During the same quarter last year, the firm posted $0.02 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Sell-side analysts forecast that SunCoke Energy will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On SunCoke Energy

Several institutional investors and hedge funds have recently made changes to their positions in SXC. BlackRock Inc. bought a new stake in shares of SunCoke Energy in the second quarter valued at about $72,643,000. Assenagon Asset Management S.A. acquired a new position in shares of SunCoke Energy in the second quarter valued at about $7,359,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of SunCoke Energy in the second quarter valued at about $6,614,000. Readystate Asset Management LP bought a new position in SunCoke Energy during the second quarter worth about $5,038,000. Finally, Empowered Funds LLC bought a new position in SunCoke Energy during the second quarter worth about $3,889,000. Institutional investors and hedge funds own 90.45% of the company’s stock.

About SunCoke Energy

SunCoke Energy, Inc is an independent producer of metallurgical coke, a carbon-based fuel and reducing agent used in blast-furnace steelmaking. The company operates cokemaking facilities in the United States and supplies coke primarily to integrated steel producers under long-term commercial arrangements.

SunCoke’s operations use coal as a raw material and employ heat-recovery technology that captures energy generated during the cokemaking process to produce electricity. In addition to coke production, the company provides coal-handling, storage, transloading and terminal services through its logistics operations, supporting the movement of coal and other bulk materials for industrial customers.

SunCoke Energy was formed from the cokemaking operations of Sunoco and became an independent, publicly traded company in 2012.