In the latest trading session, Suncor Energy (SU) closed at $31.18, marking a -0.1% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.13%. At the same time, the Dow lost 1.01%, and the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the energy company had lost 4.99% over the past month. This has lagged the Oils-Energy sector's loss of 1.89% and was narrower than the S&P 500's loss of 7.59% in that time.
Wall Street will be looking for positivity from Suncor Energy as it approaches its next earnings report date. In that report, analysts expect Suncor Energy to post earnings of $1.63 per share. This would mark year-over-year growth of 191.07%. Meanwhile, our latest consensus estimate is calling for revenue of $9.95 billion, up 22.69% from the prior-year quarter.
SU's full-year Zacks Consensus Estimates are calling for earnings of $6.48 per share and revenue of $42.4 billion. These results would represent year-over-year changes of +217.65% and +35.95%, respectively.
Any recent changes to analyst estimates for Suncor Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.89% lower within the past month. Suncor Energy is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Suncor Energy currently has a Forward P/E ratio of 4.82. For comparison, its industry has an average Forward P/E of 5.55, which means Suncor Energy is trading at a discount to the group.
We can also see that SU currently has a PEG ratio of 0.48. 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. The Oil and Gas - Integrated - Canadian industry currently had an average PEG ratio of 0.36 as of yesterday's close.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 9, putting it in the top 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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