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Suncor Energy (SU) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Suncor Energy (SU - Free Report) closed at $32.37, marking a -1.58% move from the previous day. This change lagged the S&P 500's 1.56% loss on the day. Meanwhile, the Dow lost 1.81%, and the Nasdaq, a tech-heavy index, lost 4.66%.
Heading into today, shares of the energy company had gained 8.69% over the past month, outpacing the Oils-Energy sector's gain of 6.91% and the S&P 500's gain of 3.82% in that time.
Suncor Energy will be looking to display strength as it nears 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, the Zacks Consensus Estimate for revenue is projecting net sales of $9.71 billion, up 9.67% from the year-ago period.
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. 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. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.8% lower. Suncor Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Suncor Energy is holding a Forward P/E ratio of 7.33. Its industry sports an average Forward P/E of 8.05, so we one might conclude that Suncor Energy is trading at a discount comparatively.
Investors should also note that SU has a PEG ratio of 0.57 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.43 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 187, putting it in the bottom 26% 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.
To follow SU in the coming trading sessions, be sure to utilize Zacks.com.
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Suncor Energy (SU) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Suncor Energy (SU - Free Report) closed at $32.37, marking a -1.58% move from the previous day. This change lagged the S&P 500's 1.56% loss on the day. Meanwhile, the Dow lost 1.81%, and the Nasdaq, a tech-heavy index, lost 4.66%.
Heading into today, shares of the energy company had gained 8.69% over the past month, outpacing the Oils-Energy sector's gain of 6.91% and the S&P 500's gain of 3.82% in that time.
Suncor Energy will be looking to display strength as it nears 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, the Zacks Consensus Estimate for revenue is projecting net sales of $9.71 billion, up 9.67% from the year-ago period.
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. 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. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.8% lower. Suncor Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Suncor Energy is holding a Forward P/E ratio of 7.33. Its industry sports an average Forward P/E of 8.05, so we one might conclude that Suncor Energy is trading at a discount comparatively.
Investors should also note that SU has a PEG ratio of 0.57 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - Canadian stocks are, on average, holding a PEG ratio of 0.43 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 187, putting it in the bottom 26% 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.
To follow SU in the coming trading sessions, be sure to utilize Zacks.com.