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

SunCoke Energy, Inc. (NYSE:SXC) gapped up prior to trading 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 traded.

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

SunCoke Energy Dividend Announcement

The firm 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 dividend of $0.12 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.48 annualized dividend and a dividend yield of 4.88%. SunCoke Energy’s dividend payout ratio (DPR) is presently 48.00%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of SunCoke Energy

Several large investors have recently bought and sold shares of SXC. CWA Asset Management Group LLC purchased a new position in shares of SunCoke Energy in the 3rd quarter valued at approximately $497,000. Olympiad Research LP boosted its holdings in shares of SunCoke Energy by 99.6% during the 3rd quarter. Olympiad Research LP now owns 45,318 shares of the energy company’s stock valued at $393,000 after buying an additional 22,612 shares in the last quarter. Optas LLC purchased a new stake in shares of SunCoke Energy in the 3rd quarter worth about $88,000. Semanteon Capital Management LP bought a new position in shares of SunCoke Energy in the 3rd quarter worth about $802,000. Finally, nVerses Capital LLC lifted its position in SunCoke Energy by 488.9% during the 3rd quarter. nVerses Capital LLC now owns 5,300 shares of the energy company’s stock valued at $46,000 after acquiring an additional 4,400 shares during the period. 90.45% of the stock is owned by institutional investors.

SunCoke Energy Price Performance

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

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.