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Suncor Energy (SU) Gains As Market Dips: What You Should Know
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Suncor Energy (SU - Free Report) closed at $32.82 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.39%.
Heading into today, shares of the energy company had gained 6.66% over the past month, outpacing the Oils-Energy sector's of 0% and the S&P 500's loss of 3.51% in that time.
Suncor Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.63, up 191.07% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.75 billion, up 20.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.61 per share and revenue of $41.57 billion, which would represent changes of +224.02% and +33.31%, respectively, from the prior year.
Any recent changes to analyst estimates for Suncor Energy should also be noted by investors. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 2.46% lower. Suncor Energy is currently a Zacks Rank #3 (Hold).
Investors should also note Suncor Energy's current valuation metrics, including its Forward P/E ratio of 4.92. This represents a discount compared to its industry's average Forward P/E of 5.91.
It is also worth noting that SU currently has a PEG ratio of 0.71. 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 was holding an average PEG ratio of 0.51 at yesterday's closing price.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Suncor Energy (SU) Gains As Market Dips: What You Should Know
Suncor Energy (SU - Free Report) closed at $32.82 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.39%.
Heading into today, shares of the energy company had gained 6.66% over the past month, outpacing the Oils-Energy sector's of 0% and the S&P 500's loss of 3.51% in that time.
Suncor Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.63, up 191.07% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.75 billion, up 20.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.61 per share and revenue of $41.57 billion, which would represent changes of +224.02% and +33.31%, respectively, from the prior year.
Any recent changes to analyst estimates for Suncor Energy should also be noted by investors. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 2.46% lower. Suncor Energy is currently a Zacks Rank #3 (Hold).
Investors should also note Suncor Energy's current valuation metrics, including its Forward P/E ratio of 4.92. This represents a discount compared to its industry's average Forward P/E of 5.91.
It is also worth noting that SU currently has a PEG ratio of 0.71. 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 was holding an average PEG ratio of 0.51 at yesterday's closing price.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.