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Suncor Energy (SU) Stock Sinks As Market Gains: What You Should Know
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Suncor Energy (SU - Free Report) closed at $31.04 in the latest trading session, marking a -1.55% move from the prior day. This change lagged the S&P 500's daily gain of 0.7%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 7.5%.
Heading into today, shares of the energy company had gained 3.92% over the past month, outpacing the Oils-Energy sector's gain of 3.67% and the S&P 500's loss of 0.94% in that time.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release. On that day, Suncor Energy is projected to report earnings of $1.42 per share, which would represent year-over-year growth of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $9.71 billion, up 9.67% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Suncor Energy. Recent revisions tend to reflect the latest 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.8% lower. Suncor Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Suncor Energy currently has a Forward P/E ratio of 7.03. For comparison, its industry has an average Forward P/E of 7.88, which means Suncor Energy is trading at a discount to the group.
It is also worth noting that SU currently has a PEG ratio of 0.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.41 based on yesterday's closing prices.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Suncor Energy (SU) Stock Sinks As Market Gains: What You Should Know
Suncor Energy (SU - Free Report) closed at $31.04 in the latest trading session, marking a -1.55% move from the prior day. This change lagged the S&P 500's daily gain of 0.7%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 7.5%.
Heading into today, shares of the energy company had gained 3.92% over the past month, outpacing the Oils-Energy sector's gain of 3.67% and the S&P 500's loss of 0.94% in that time.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release. On that day, Suncor Energy is projected to report earnings of $1.42 per share, which would represent year-over-year growth of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $9.71 billion, up 9.67% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Suncor Energy. Recent revisions tend to reflect the latest 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.8% lower. Suncor Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Suncor Energy currently has a Forward P/E ratio of 7.03. For comparison, its industry has an average Forward P/E of 7.88, which means Suncor Energy is trading at a discount to the group.
It is also worth noting that SU currently has a PEG ratio of 0.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.41 based on yesterday's closing prices.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.