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Suncor Energy (SU) Gains As Market Dips: What You Should Know
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Suncor Energy (SU - Free Report) closed the most recent trading day at $31.69, moving +1.28% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.43%. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq lost 0.62%.
Coming into today, shares of the energy company had gained 8.31% in the past month. In that same time, the Oils-Energy sector gained 5.18%, while the S&P 500 lost 6.57%.
Suncor Energy will be looking to display strength as it nears its next earnings release. On that day, Suncor Energy is projected to report earnings of $0.93 per share, which would represent year-over-year growth of 138.46%. Our most recent consensus estimate is calling for quarterly revenue of $8.63 billion, up 26.52% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.53 per share and revenue of $34.05 billion. These totals would mark changes of +73.04% and +9.18%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 3.01% higher. Suncor Energy is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Suncor Energy has a Forward P/E ratio of 8.86 right now. This represents a discount compared to its industry's average Forward P/E of 9.06.
It is also worth noting that SU currently has a PEG ratio of 0.65. 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 0.49 based on yesterday's closing prices.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Suncor Energy (SU) Gains As Market Dips: What You Should Know
Suncor Energy (SU - Free Report) closed the most recent trading day at $31.69, moving +1.28% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.43%. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq lost 0.62%.
Coming into today, shares of the energy company had gained 8.31% in the past month. In that same time, the Oils-Energy sector gained 5.18%, while the S&P 500 lost 6.57%.
Suncor Energy will be looking to display strength as it nears its next earnings release. On that day, Suncor Energy is projected to report earnings of $0.93 per share, which would represent year-over-year growth of 138.46%. Our most recent consensus estimate is calling for quarterly revenue of $8.63 billion, up 26.52% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.53 per share and revenue of $34.05 billion. These totals would mark changes of +73.04% and +9.18%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 3.01% higher. Suncor Energy is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Suncor Energy has a Forward P/E ratio of 8.86 right now. This represents a discount compared to its industry's average Forward P/E of 9.06.
It is also worth noting that SU currently has a PEG ratio of 0.65. 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 0.49 based on yesterday's closing prices.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.