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Suncor Energy (SU) Gains But Lags Market: What You Should Know
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Suncor Energy (SU - Free Report) closed at $23.51 in the latest trading session, marking a +0.17% move from the prior day. The stock lagged the S&P 500's daily gain of 1.64%. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 0.45%.
Heading into today, shares of the energy company had lost 8.28% over the past month, lagging the Oils-Energy sector's loss of 4.55% and the S&P 500's loss of 0.83% in that time.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release. The company is expected to report EPS of $0.90, up 1385.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.46 billion, up 86.91% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.25 per share and revenue of $30.66 billion, which would represent changes of +304.55% and +63.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Suncor Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.25% lower. Suncor Energy is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Suncor Energy's current valuation metrics, including its Forward P/E ratio of 10.43. This valuation marks a discount compared to its industry's average Forward P/E of 11.45.
Also, we should mention that SU has a PEG ratio of 3.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 3.48 based on yesterday's closing prices.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Suncor Energy (SU) Gains But Lags Market: What You Should Know
Suncor Energy (SU - Free Report) closed at $23.51 in the latest trading session, marking a +0.17% move from the prior day. The stock lagged the S&P 500's daily gain of 1.64%. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 0.45%.
Heading into today, shares of the energy company had lost 8.28% over the past month, lagging the Oils-Energy sector's loss of 4.55% and the S&P 500's loss of 0.83% in that time.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release. The company is expected to report EPS of $0.90, up 1385.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.46 billion, up 86.91% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.25 per share and revenue of $30.66 billion, which would represent changes of +304.55% and +63.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Suncor Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.25% lower. Suncor Energy is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Suncor Energy's current valuation metrics, including its Forward P/E ratio of 10.43. This valuation marks a discount compared to its industry's average Forward P/E of 11.45.
Also, we should mention that SU has a PEG ratio of 3.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 3.48 based on yesterday's closing prices.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.