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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 at $31.91 in the latest trading session, marking a +1.3% move from the prior day. This change outpaced the S&P 500's 0.41% loss on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 6.67%.
Coming into today, shares of the energy company had lost 7.89% in the past month. In that same time, the Oils-Energy sector lost 3.55%, while the S&P 500 lost 4.4%.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release. In that report, analysts expect Suncor Energy to post earnings of $1.42 per share. This would mark year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $9.71 billion, up 9.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.17 per share and revenue of $42.78 billion, which would represent changes of +202.45% and +37.19%, respectively, from the prior year.
Investors might also notice 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. 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. The Zacks Consensus EPS estimate has moved 1.23% lower within the past month. Suncor Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Suncor Energy is holding a Forward P/E ratio of 5.1. This valuation marks a discount compared to its industry's average Forward P/E of 6.62.
Meanwhile, SU's PEG ratio is currently 0.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.43 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 217, which puts it in the bottom 14% 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.
To follow SU in the coming trading sessions, be sure to utilize Zacks.com.
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Suncor Energy (SU) Gains As Market Dips: What You Should Know
Suncor Energy (SU - Free Report) closed at $31.91 in the latest trading session, marking a +1.3% move from the prior day. This change outpaced the S&P 500's 0.41% loss on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 6.67%.
Coming into today, shares of the energy company had lost 7.89% in the past month. In that same time, the Oils-Energy sector lost 3.55%, while the S&P 500 lost 4.4%.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release. In that report, analysts expect Suncor Energy to post earnings of $1.42 per share. This would mark year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $9.71 billion, up 9.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.17 per share and revenue of $42.78 billion, which would represent changes of +202.45% and +37.19%, respectively, from the prior year.
Investors might also notice 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. 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. The Zacks Consensus EPS estimate has moved 1.23% lower within the past month. Suncor Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Suncor Energy is holding a Forward P/E ratio of 5.1. This valuation marks a discount compared to its industry's average Forward P/E of 6.62.
Meanwhile, SU's PEG ratio is currently 0.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.43 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 217, which puts it in the bottom 14% 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.
To follow SU in the coming trading sessions, be sure to utilize Zacks.com.