Suncor Energy (SU) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Suncor Energy (SU) closed at $32.38, marking a -1.94% move from the previous day. This move lagged the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Coming into today, shares of the energy company had lost 5.95% in the past month. In that same time, the Oils-Energy sector lost 1.82%, while the S&P 500 gained 2%.
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 $0.96 per share. This would mark a year-over-year decline of 36.84%. Our most recent consensus estimate is calling for quarterly revenue of $8.22 billion, down 22.81% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.03 per share and revenue of $33.15 billion. These totals would mark changes of -37.23% and -26.49%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 remained stagnant. Suncor Energy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Suncor Energy has a Forward P/E ratio of 8.2 right now. This valuation marks a discount compared to its industry's average Forward P/E of 9.29.
Meanwhile, SU's PEG ratio is currently 0.69. 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. SU's industry had an average PEG ratio of 0.52 as of yesterday's close.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Suncor Energy Inc. (SU) : Free Stock Analysis Report
