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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 $31.72 in the latest trading session, marking a +1.96% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, lost 1.17%.
Coming into today, shares of the energy company had gained 5.53% in the past month. In that same time, the Oils-Energy sector gained 6.07%, while the S&P 500 gained 2.35%.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release, which is expected to be August 14, 2023. The company is expected to report EPS of $0.59, down 72.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.89 billion, down 37.85% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.33 per share and revenue of $33.82 billion, which would represent changes of -48.13% and -25%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Suncor Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 11.33% lower within the past month. Suncor Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, Suncor Energy currently has a Forward P/E ratio of 9.35. This represents a discount compared to its industry's average Forward P/E of 10.81.
It is also worth noting that SU currently has a PEG ratio of 0.79. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.58 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 108, which puts it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Suncor Energy (SU) Gains As Market Dips: What You Should Know
Suncor Energy (SU - Free Report) closed at $31.72 in the latest trading session, marking a +1.96% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, lost 1.17%.
Coming into today, shares of the energy company had gained 5.53% in the past month. In that same time, the Oils-Energy sector gained 6.07%, while the S&P 500 gained 2.35%.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release, which is expected to be August 14, 2023. The company is expected to report EPS of $0.59, down 72.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.89 billion, down 37.85% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.33 per share and revenue of $33.82 billion, which would represent changes of -48.13% and -25%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Suncor Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 11.33% lower within the past month. Suncor Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, Suncor Energy currently has a Forward P/E ratio of 9.35. This represents a discount compared to its industry's average Forward P/E of 10.81.
It is also worth noting that SU currently has a PEG ratio of 0.79. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.58 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 108, which puts it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.