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Suncor Energy (SU) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Suncor Energy (SU - Free Report) closed at $32.43, marking a -0.09% move from the previous day. This change lagged the S&P 500's 1.13% gain on the day. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.87%.
Heading into today, shares of the energy company had gained 11.66% over the past month, outpacing the Oils-Energy sector's gain of 8.56% and the S&P 500's gain of 2.65% in that time.
Suncor Energy will be looking to display strength as it nears its next earnings release. In that report, analysts expect Suncor Energy to post earnings of $1.06 per share. This would mark year-over-year growth of 171.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.71 billion, up 27.78% from the year-ago period.
SU's full-year Zacks Consensus Estimates are calling for earnings of $3.86 per share and revenue of $34.77 billion. These results would represent year-over-year changes of +89.22% and +11.48%, respectively.
Investors should also note any recent changes to analyst estimates for Suncor Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 13.18% higher. Suncor Energy is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Suncor Energy is holding a Forward P/E ratio of 8.4. Its industry sports an average Forward P/E of 8.16, so we one might conclude that Suncor Energy is trading at a premium comparatively.
It is also worth noting that SU currently has a PEG ratio of 0.61. 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. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.45 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 2, putting it in the top 1% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Suncor Energy (SU - Free Report) closed at $32.43, marking a -0.09% move from the previous day. This change lagged the S&P 500's 1.13% gain on the day. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.87%.
Heading into today, shares of the energy company had gained 11.66% over the past month, outpacing the Oils-Energy sector's gain of 8.56% and the S&P 500's gain of 2.65% in that time.
Suncor Energy will be looking to display strength as it nears its next earnings release. In that report, analysts expect Suncor Energy to post earnings of $1.06 per share. This would mark year-over-year growth of 171.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.71 billion, up 27.78% from the year-ago period.
SU's full-year Zacks Consensus Estimates are calling for earnings of $3.86 per share and revenue of $34.77 billion. These results would represent year-over-year changes of +89.22% and +11.48%, respectively.
Investors should also note any recent changes to analyst estimates for Suncor Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 13.18% higher. Suncor Energy is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Suncor Energy is holding a Forward P/E ratio of 8.4. Its industry sports an average Forward P/E of 8.16, so we one might conclude that Suncor Energy is trading at a premium comparatively.
It is also worth noting that SU currently has a PEG ratio of 0.61. 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. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.45 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 2, putting it in the top 1% 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.