Brokerages predict that Suncor Energy Inc. (NYSE:SU) (TSE:SU) will report sales of $8.62 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Suncor Energy’s earnings, with the lowest sales estimate coming in at $7.69 billion and the highest estimate coming in at $10.11 billion. Suncor Energy reported sales of $6.40 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 34.7%. The business is scheduled to issue its next earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Suncor Energy will report full year sales of $31.83 billion for the current fiscal year, with estimates ranging from $30.29 billion to $34.58 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $33.77 billion per share, with estimates ranging from $29.51 billion to $39.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Suncor Energy.
Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, July 25th. The oil and gas producer reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.16. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $6.53 billion. Suncor Energy had a net margin of 12.25% and a return on equity of 9.61%. During the same quarter in the prior year, the firm earned $0.26 EPS.
SU has been the topic of several recent research reports. Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Tuesday, July 24th. Mizuho initiated coverage on shares of Suncor Energy in a report on Monday, July 23rd. They set a “buy” rating on the stock. AltaCorp Capital lowered shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Tuesday, June 12th. Finally, Morgan Stanley increased their target price on shares of Suncor Energy from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, May 23rd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $49.71.
Several hedge funds have recently added to or reduced their stakes in SU. Wasatch Advisors Inc. boosted its position in Suncor Energy by 12.3% during the 1st quarter. Wasatch Advisors Inc. now owns 239,515 shares of the oil and gas producer’s stock valued at $8,273,000 after buying an additional 26,211 shares during the period. ARP Americas LP purchased a new stake in Suncor Energy during the 1st quarter valued at $304,000. Augustine Asset Management Inc. boosted its position in Suncor Energy by 2.4% during the 1st quarter. Augustine Asset Management Inc. now owns 102,957 shares of the oil and gas producer’s stock valued at $3,556,000 after buying an additional 2,458 shares during the period. Oppenheimer & Co. Inc. boosted its position in Suncor Energy by 27.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 9,626 shares of the oil and gas producer’s stock valued at $333,000 after buying an additional 2,100 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Suncor Energy by 3.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,992,318 shares of the oil and gas producer’s stock worth $172,151,000 after purchasing an additional 185,093 shares during the period. 66.33% of the stock is currently owned by institutional investors.
Shares of NYSE:SU traded up $0.30 during trading on Tuesday, reaching $41.30. The company had a trading volume of 214,340 shares, compared to its average volume of 2,511,576. The firm has a market capitalization of $65.58 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.69 and a beta of 0.79. Suncor Energy has a 12 month low of $30.68 and a 12 month high of $42.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.56.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Tuesday, September 4th will be issued a dividend of $0.274 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, August 31st. Suncor Energy’s dividend payout ratio is currently 73.51%.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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