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Suncor Energy (SU) Gains But Lags Market: What You Should Know

Zacks Equity Research

Suncor Energy (SU) closed at $16.66 in the latest trading session, marking a +1.03% move from the prior day. This change lagged the S&P 500's 3.41% gain on the day. Elsewhere, the Dow gained 3.44%, while the tech-heavy Nasdaq added 2.58%.

Heading into today, shares of the energy company had lost 18.41% over the past month, outpacing the Oils-Energy sector's loss of 21.11% and lagging the S&P 500's loss of 10.46% in that time.

Wall Street will be looking for positivity from SU as it approaches its next earnings report date. In that report, analysts expect SU to post earnings of $0.21 per share. This would mark a year-over-year decline of 63.79%. Our most recent consensus estimate is calling for quarterly revenue of $8.49 billion, up 20.15% from the year-ago period.

SU's full-year Zacks Consensus Estimates are calling for earnings of -$0.42 per share and revenue of $28.60 billion. These results would represent year-over-year changes of -119.81% and -2.67%, respectively.

Investors should also note any recent changes to analyst estimates for SU. 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.

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. The Zacks Consensus EPS estimate has moved 123.32% lower within the past month. SU is currently a Zacks Rank #3 (Hold).

The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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