Wall Street analysts expect that Suncor Energy Inc. (NYSE:SU) (TSE:SU) will announce earnings per share (EPS) of $0.68 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Suncor Energy’s earnings, with the highest EPS estimate coming in at $0.81 and the lowest estimate coming in at $0.51. Suncor Energy posted earnings per share of $0.41 during the same quarter last year, which indicates a positive year-over-year growth rate of 65.9%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 24th.
On average, analysts expect that Suncor Energy will report full-year earnings of $2.47 per share for the current fiscal year, with EPS estimates ranging from $2.17 to $2.84. For the next financial year, analysts anticipate that the business will report earnings of $3.15 per share, with EPS estimates ranging from $2.70 to $3.72. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.16. The company 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 last year, the firm earned $0.26 EPS.
Several research analysts recently weighed in on SU shares. Morgan Stanley lifted their price objective on shares of Suncor Energy from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 23rd. Zacks Investment Research upgraded 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 Thursday, May 24th. AltaCorp Capital downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Tuesday, June 12th. Finally, Mizuho started coverage on shares of Suncor Energy in a report on Monday, July 23rd. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Suncor Energy has a consensus rating of “Buy” and a consensus price target of $49.71.
A number of hedge funds have recently added to or reduced their stakes in SU. Bessemer Group Inc. acquired a new position in Suncor Energy in the second quarter valued at about $111,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Suncor Energy in the first quarter valued at approximately $114,000. Gables Capital Management Inc. acquired a new position in shares of Suncor Energy in the first quarter valued at approximately $149,000. Signaturefd LLC acquired a new position in shares of Suncor Energy in the first quarter valued at approximately $152,000. Finally, Fortis Advisors LLC increased its stake in shares of Suncor Energy by 164.7% in the first quarter. Fortis Advisors LLC now owns 4,500 shares of the oil and gas producer’s stock valued at $155,000 after buying an additional 2,800 shares during the period. 65.57% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SU opened at $39.03 on Wednesday. The stock has a market capitalization of $63.99 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 1.61 and a beta of 0.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.56 and a current ratio of 0.90. Suncor Energy has a 1 year low of $31.33 and a 1 year high of $42.55.
The company 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. The ex-dividend date is Friday, August 31st. This represents a $1.10 dividend on an annualized basis and a yield of 2.81%. Suncor Energy’s payout ratio is 72.85%.
About Suncor Energy
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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