The latest trading session saw Suncor Energy (SU - Free Report) ending at $31.76, denoting a -1.15% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 1.47%. At the same time, the Dow lost 1.27%, and the tech-heavy Nasdaq lost 1.5%.
Shares of the energy company witnessed a loss of 3.11% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 1.46% and the S&P 500's gain of 5.77%.
The investment community will be paying close attention to the earnings performance of Suncor Energy in its upcoming release. The company is predicted to post an EPS of $0.82, indicating a 38.35% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $8.56 billion, down 16.12% from the year-ago period.
SU's full-year Zacks Consensus Estimates are calling for earnings of $3.87 per share and revenue of $35.63 billion. These results would represent year-over-year changes of -39.72% and -21%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Suncor Energy. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been a 0.45% fall in the Zacks Consensus EPS estimate. At present, Suncor Energy boasts a Zacks Rank of #3 (Hold).
Investors should also note Suncor Energy's current valuation metrics, including its Forward P/E ratio of 8.3. This indicates a discount in contrast to its industry's Forward P/E of 9.98.
We can also see that SU currently has a PEG ratio of 2.77. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - Canadian industry currently had an average PEG ratio of 2.77 as of yesterday's close.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 224, this industry ranks in the bottom 12% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
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The latest trading session saw Suncor Energy (SU - Free Report) ending at $31.76, denoting a -1.15% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 1.47%. At the same time, the Dow lost 1.27%, and the tech-heavy Nasdaq lost 1.5%.
Shares of the energy company witnessed a loss of 3.11% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 1.46% and the S&P 500's gain of 5.77%.
The investment community will be paying close attention to the earnings performance of Suncor Energy in its upcoming release. The company is predicted to post an EPS of $0.82, indicating a 38.35% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $8.56 billion, down 16.12% from the year-ago period.
SU's full-year Zacks Consensus Estimates are calling for earnings of $3.87 per share and revenue of $35.63 billion. These results would represent year-over-year changes of -39.72% and -21%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Suncor Energy. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been a 0.45% fall in the Zacks Consensus EPS estimate. At present, Suncor Energy boasts a Zacks Rank of #3 (Hold).
Investors should also note Suncor Energy's current valuation metrics, including its Forward P/E ratio of 8.3. This indicates a discount in contrast to its industry's Forward P/E of 9.98.
We can also see that SU currently has a PEG ratio of 2.77. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - Canadian industry currently had an average PEG ratio of 2.77 as of yesterday's close.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 224, this industry ranks in the bottom 12% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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