SunCoke Energy (NYSE:SXC) Reaches New 12-Month Low Following Weak Earnings

Shares of SunCoke Energy, Inc. (NYSE:SXC) hit a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $7.45 and last traded at $7.89, with a volume of 228445 shares changing hands. The stock had previously closed at $8.28.

The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.13). SunCoke Energy had a net margin of 4.95% and a return on equity of 13.40%. The company had revenue of $434.10 million during the quarter, compared to the consensus estimate of $348.05 million. During the same quarter in the previous year, the business posted $0.25 EPS. The firm’s quarterly revenue was down 7.8% on a year-over-year basis.

SunCoke Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 6.30%. SunCoke Energy’s payout ratio is presently 44.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SXC. Sei Investments Co. lifted its stake in SunCoke Energy by 59.1% during the fourth quarter. Sei Investments Co. now owns 38,361 shares of the energy company’s stock worth $410,000 after purchasing an additional 14,257 shares during the period. KLP Kapitalforvaltning AS bought a new position in SunCoke Energy during the fourth quarter worth about $367,000. Vanguard Group Inc. lifted its stake in SunCoke Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,993,020 shares of the energy company’s stock worth $74,825,000 after purchasing an additional 19,644 shares during the period. Prudential Financial Inc. lifted its stake in SunCoke Energy by 59.9% during the fourth quarter. Prudential Financial Inc. now owns 324,664 shares of the energy company’s stock worth $3,474,000 after purchasing an additional 121,600 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SunCoke Energy by 835.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,630 shares of the energy company’s stock worth $38,000 after purchasing an additional 3,242 shares during the period. Institutional investors own 90.45% of the company’s stock.

SunCoke Energy Trading Down 8.0%

The stock has a market cap of $645.03 million, a P/E ratio of 6.99 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.40 and a quick ratio of 1.39. The business’s 50 day simple moving average is $8.36 and its 200 day simple moving average is $8.98.

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.