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Suncor Energy (SU) Gains As Market Dips: What You Should Know
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In the latest trading session, Suncor Energy (SU - Free Report) closed at $26.08, marking a +1.48% move from the previous day. This move outpaced the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq lost 0.3%.
Coming into today, shares of the energy company had gained 5.46% in the past month. In that same time, the Oils-Energy sector gained 3.44%, while the S&P 500 gained 5.76%.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release, which is expected to be February 2, 2022. The company is expected to report EPS of $0.90, up 1385.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.46 billion, up 86.91% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Suncor Energy. These revisions help to show the ever-changing nature of near-term business trends. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.89% lower. Suncor Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Suncor Energy is holding a Forward P/E ratio of 7.71. This represents a discount compared to its industry's average Forward P/E of 8.23.
Investors should also note that SU has a PEG ratio of 2.57 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - Canadian industry currently had an average PEG ratio of 2.57 as of yesterday's close.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 124, putting it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 As Market Dips: What You Should Know
In the latest trading session, Suncor Energy (SU - Free Report) closed at $26.08, marking a +1.48% move from the previous day. This move outpaced the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq lost 0.3%.
Coming into today, shares of the energy company had gained 5.46% in the past month. In that same time, the Oils-Energy sector gained 3.44%, while the S&P 500 gained 5.76%.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release, which is expected to be February 2, 2022. The company is expected to report EPS of $0.90, up 1385.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.46 billion, up 86.91% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Suncor Energy. These revisions help to show the ever-changing nature of near-term business trends. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.89% lower. Suncor Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Suncor Energy is holding a Forward P/E ratio of 7.71. This represents a discount compared to its industry's average Forward P/E of 8.23.
Investors should also note that SU has a PEG ratio of 2.57 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - Canadian industry currently had an average PEG ratio of 2.57 as of yesterday's close.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 124, putting it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.