SunCoke Energy (NYSE:SXC) Shares Gap Up on Strong Earnings

Shares of SunCoke Energy, Inc. (NYSE:SXC) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $8.62, but opened at $9.60. SunCoke Energy shares last traded at $9.76, with a volume of 236,054 shares trading hands.

The energy company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.13. SunCoke Energy had a net margin of 4.37% and a return on equity of 12.95%. The business had revenue of $490.10 million during the quarter, compared to the consensus estimate of $412.70 million. During the same quarter last year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis.

SunCoke Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.88%. SunCoke Energy’s dividend payout ratio is currently 48.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of SunCoke Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

Institutional Investors Weigh In On SunCoke Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in SunCoke Energy by 45.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 53,705 shares of the energy company’s stock valued at $605,000 after purchasing an additional 16,869 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of SunCoke Energy by 130.5% during the first quarter. BNP Paribas Financial Markets now owns 114,779 shares of the energy company’s stock valued at $1,294,000 after buying an additional 64,978 shares during the last quarter. Jennison Associates LLC increased its holdings in SunCoke Energy by 19.7% in the 1st quarter. Jennison Associates LLC now owns 115,571 shares of the energy company’s stock worth $1,302,000 after buying an additional 19,020 shares in the last quarter. LSV Asset Management raised its position in SunCoke Energy by 2.4% in the 1st quarter. LSV Asset Management now owns 2,099,317 shares of the energy company’s stock worth $23,659,000 after buying an additional 49,800 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in SunCoke Energy in the 1st quarter worth about $204,000. Institutional investors own 90.45% of the company’s stock.

SunCoke Energy Stock Down 4.7 %

The company’s 50 day simple moving average is $8.51 and its 200-day simple moving average is $9.52. The company has a current ratio of 2.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.71. The firm has a market cap of $826.60 million, a P/E ratio of 9.83 and a beta of 1.02.

SunCoke Energy Company Profile

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.