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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 $31.33, moving +0.19% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the energy company had lost 0.98% in the past month. In that same time, the Oils-Energy sector lost 3.77%, while the S&P 500 lost 11.67%.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release. On that day, Suncor Energy is projected to report earnings of $1.63 per share, which would represent year-over-year growth of 191.07%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.75 billion, up 20.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.61 per share and revenue of $41.57 billion, which would represent changes of +224.02% and +33.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Suncor Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.83% lower. Suncor Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Suncor Energy is currently trading at a Forward P/E ratio of 4.73. Its industry sports an average Forward P/E of 5.65, so we one might conclude that Suncor Energy is trading at a discount comparatively.
Investors should also note that SU has a PEG ratio of 0.68 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. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.48 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 178, putting it in the bottom 30% 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.
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
Suncor Energy (SU - Free Report) closed the most recent trading day at $31.33, moving +0.19% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the energy company had lost 0.98% in the past month. In that same time, the Oils-Energy sector lost 3.77%, while the S&P 500 lost 11.67%.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release. On that day, Suncor Energy is projected to report earnings of $1.63 per share, which would represent year-over-year growth of 191.07%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.75 billion, up 20.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.61 per share and revenue of $41.57 billion, which would represent changes of +224.02% and +33.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Suncor Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.83% lower. Suncor Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Suncor Energy is currently trading at a Forward P/E ratio of 4.73. Its industry sports an average Forward P/E of 5.65, so we one might conclude that Suncor Energy is trading at a discount comparatively.
Investors should also note that SU has a PEG ratio of 0.68 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. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.48 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 178, putting it in the bottom 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.