Wall Street brokerages expect that Suncor Energy Inc. (NYSE:SU) (TSE:SU) will report $0.68 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Suncor Energy’s earnings, with estimates ranging from $0.51 to $0.81. Suncor Energy posted earnings of $0.41 per share in the same quarter last year, which would indicate a positive year over year growth rate of 65.9%. The business is scheduled to announce its next earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that Suncor Energy will report full year earnings of $2.42 per share for the current year, with EPS estimates ranging from $2.11 to $2.84. For the next financial year, analysts expect that the firm will post earnings of $3.13 per share, with EPS estimates ranging from $2.55 to $3.72. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Suncor Energy.
Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, July 25th. The oil and gas producer reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.16. Suncor Energy had a net margin of 12.25% and a return on equity of 9.61%. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $6.53 billion. During the same quarter last year, the firm posted $0.26 EPS.
A number of equities analysts have recently commented on SU shares. 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 research note on Tuesday, July 24th. Morgan Stanley raised their target price on shares of Suncor Energy from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, May 23rd. Mizuho started coverage on shares of Suncor Energy in a research note on Monday, July 23rd. They issued a “buy” rating on the stock. Finally, AltaCorp Capital downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, June 12th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Suncor Energy currently has an average rating of “Buy” and a consensus target price of $49.71.
Hedge funds have recently modified their holdings of the company. Sanders Capital LLC purchased a new stake in Suncor Energy during the 2nd quarter worth $525,087,000. Fiera Capital Corp increased its stake in Suncor Energy by 277.0% during the 2nd quarter. Fiera Capital Corp now owns 4,592,696 shares of the oil and gas producer’s stock worth $186,923,000 after buying an additional 3,374,469 shares during the period. BlackRock Inc. increased its stake in Suncor Energy by 11.8% during the 1st quarter. BlackRock Inc. now owns 29,375,219 shares of the oil and gas producer’s stock worth $1,014,620,000 after buying an additional 3,097,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Suncor Energy by 17.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,966,446 shares of the oil and gas producer’s stock worth $812,045,000 after buying an additional 2,911,304 shares during the period. Finally, Waddell & Reed Financial Inc. increased its stake in Suncor Energy by 203.0% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 4,284,540 shares of the oil and gas producer’s stock worth $174,295,000 after buying an additional 2,870,436 shares during the period. 66.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of SU stock opened at $40.29 on Friday. Suncor Energy has a 52 week low of $30.68 and a 52 week high of $42.55. The company has a current ratio of 0.90, a quick ratio of 0.56 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $65.65 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.69 and a beta of 0.79.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 25th. Stockholders of record on Tuesday, September 4th will be paid a $0.274 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, August 31st. Suncor Energy’s dividend payout ratio is presently 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.