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Suncor Energy (SU) Stock Sinks As Market Gains: What You Should Know
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Suncor Energy (SU - Free Report) closed at $28.84 in the latest trading session, marking a -0.59% move from the prior day. This change lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Heading into today, shares of the energy company had gained 1.65% over the past month, lagging the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% 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 $0.86 per share. This would mark a year-over-year decline of 59.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.01 billion, down 36.92% from the year-ago period.
SU's full-year Zacks Consensus Estimates are calling for earnings of $3.75 per share and revenue of $33.78 billion. These results would represent year-over-year changes of -41.59% and -25.09%, respectively.
Investors might also notice recent changes to analyst estimates for Suncor Energy. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.2% higher. Suncor Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Suncor Energy is currently trading at a Forward P/E ratio of 7.73. Its industry sports an average Forward P/E of 8.77, so we one might conclude that Suncor Energy is trading at a discount comparatively.
It is also worth noting that SU currently has a PEG ratio of 0.65. 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. The Oil and Gas - Integrated - Canadian was holding an average PEG ratio of 0.49 at yesterday's closing price.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 111, which puts it in the top 45% 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) Stock Sinks As Market Gains: What You Should Know
Suncor Energy (SU - Free Report) closed at $28.84 in the latest trading session, marking a -0.59% move from the prior day. This change lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Heading into today, shares of the energy company had gained 1.65% over the past month, lagging the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% 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 $0.86 per share. This would mark a year-over-year decline of 59.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.01 billion, down 36.92% from the year-ago period.
SU's full-year Zacks Consensus Estimates are calling for earnings of $3.75 per share and revenue of $33.78 billion. These results would represent year-over-year changes of -41.59% and -25.09%, respectively.
Investors might also notice recent changes to analyst estimates for Suncor Energy. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.2% higher. Suncor Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Suncor Energy is currently trading at a Forward P/E ratio of 7.73. Its industry sports an average Forward P/E of 8.77, so we one might conclude that Suncor Energy is trading at a discount comparatively.
It is also worth noting that SU currently has a PEG ratio of 0.65. 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. The Oil and Gas - Integrated - Canadian was holding an average PEG ratio of 0.49 at yesterday's closing price.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 111, which puts it in the top 45% 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.