Suncor Energy (SU) Rises As Market Takes a Dip: Key Facts
Suncor Energy (SU) closed at $33.22 in the latest trading session, marking a +1.1% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.43%. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 2.43%.
The energy company's shares have seen a decrease of 3.83% over the last month, not keeping up with the Oils-Energy sector's loss of 1.51% and the S&P 500's loss of 1.55%.
Market participants will be closely following the financial results of Suncor Energy in its upcoming release. The company is forecasted to report an EPS of $0.95, showcasing a 34.03% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $8.26 billion, indicating a 28.45% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.90 per share and revenue of $34.03 billion, indicating changes of -39.25% and -24.53%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Suncor Energy. 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 9.7% upward. Suncor Energy is currently sporting a Zacks Rank of #2 (Buy).
From a valuation perspective, Suncor Energy is currently exchanging hands at a Forward P/E ratio of 8.42. This represents a discount compared to its industry's average Forward P/E of 11.46.
Also, we should mention that SU has a PEG ratio of 0.71. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Integrated - Canadian industry stood at 0.56 at the close of the market yesterday.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 100, this industry ranks in the top 40% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 Inc. (SU) : Free Stock Analysis Report
