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Suncor Energy (SU) Outpaces Stock Market Gains: What You Should Know
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Suncor Energy (SU - Free Report) closed at $30.24 in the latest trading session, marking a +1.51% move from the prior day. This move outpaced the S&P 500's daily gain of 1.22%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 4.63%.
Prior to today's trading, shares of the energy company had gained 4.05% over the past month. This has outpaced the Oils-Energy sector's gain of 2.49% and lagged the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from Suncor Energy as it approaches its next earnings report date. On that day, Suncor Energy is projected to report earnings of $0.91 per share, which would represent a year-over-year decline of 57.08%. Our most recent consensus estimate is calling for quarterly revenue of $8 billion, down 36.98% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.75 per share and revenue of $33.31 billion. These totals would mark changes of -41.59% and -26.14%, respectively, from last year.
Any recent changes to analyst estimates for Suncor Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.1% 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 7.95. This valuation marks a discount compared to its industry's average Forward P/E of 8.7.
Meanwhile, SU's PEG ratio is currently 0.67. 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 0.49 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 116, which puts it in the top 47% 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) Outpaces Stock Market Gains: What You Should Know
Suncor Energy (SU - Free Report) closed at $30.24 in the latest trading session, marking a +1.51% move from the prior day. This move outpaced the S&P 500's daily gain of 1.22%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 4.63%.
Prior to today's trading, shares of the energy company had gained 4.05% over the past month. This has outpaced the Oils-Energy sector's gain of 2.49% and lagged the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from Suncor Energy as it approaches its next earnings report date. On that day, Suncor Energy is projected to report earnings of $0.91 per share, which would represent a year-over-year decline of 57.08%. Our most recent consensus estimate is calling for quarterly revenue of $8 billion, down 36.98% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.75 per share and revenue of $33.31 billion. These totals would mark changes of -41.59% and -26.14%, respectively, from last year.
Any recent changes to analyst estimates for Suncor Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.1% 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 7.95. This valuation marks a discount compared to its industry's average Forward P/E of 8.7.
Meanwhile, SU's PEG ratio is currently 0.67. 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 0.49 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 116, which puts it in the top 47% 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.