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Wall Street's Insights Into Key Metrics Ahead of Suncor Energy (SU) Q3 Earnings
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In its upcoming report, Suncor Energy (SU - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.85 per share, reflecting a decline of 21.3% compared to the same period last year. Revenues are forecasted to be $8.28 billion, representing a year-over-year decrease of 13.5%.
Over the last 30 days, there has been an upward revision of 19.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Suncor Energy metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Total refined product sales per day' to reach 588.45 thousands of barrels of oil. Compared to the current estimate, the company reported 612.30 thousands of barrels of oil in the same quarter of the previous year.
The consensus among analysts is that 'Sales Volumes per day - Total Oil Sands operations' will reach 791.04 thousands of barrels of oil. Compared to the current estimate, the company reported 764.50 thousands of barrels of oil in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Crude oil processed per day - Eastern North America' should arrive at 224.22 thousands of barrels of oil. Compared to the current estimate, the company reported 235.40 thousands of barrels of oil in the same quarter of the previous year.
Analysts' assessment points toward 'Crude oil processed per day - Western North America' reaching 234.24 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 252.20 thousands of barrels of oil.
It is projected by analysts that the 'Crude oil processed per day - Total' will reach 458.46 thousands of barrels of oil. Compared to the present estimate, the company reported 487.60 thousands of barrels of oil in the same quarter last year.
The collective assessment of analysts points to an estimated 'Production Volumes per day - Oil Sands operations - non-upgraded bitumen' of 306.12 thousands of barrels of oil. The estimate compares to the year-ago value of 262.20 thousands of barrels of oil.
The consensus estimate for 'Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel)' stands at 484.92 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 513.80 thousands of barrels of oil.
According to the collective judgment of analysts, 'Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel)' should come in at 484.92 thousands of barrels of oil. The estimate compares to the year-ago value of 510.30 thousands of barrels of oil.
The average prediction of analysts places 'Sales Volumes per day - Oil Sands operations - non-upgraded bitumen' at 306.12 thousands of barrels of oil. Compared to the present estimate, the company reported 254.20 thousands of barrels of oil in the same quarter last year.
Analysts predict that the 'Production Volumes per day - Total Fort Hills bitumen production' will reach 184.30 thousands of barrels of oil. Compared to the present estimate, the company reported 166.00 thousands of barrels of oil in the same quarter last year.
Analysts expect 'Production Volumes per day - Total Syncrude production' to come in at 180.92 thousands of barrels of oil. Compared to the current estimate, the company reported 213.80 thousands of barrels of oil in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Production volumes per day - E&P Canada' will likely reach 51.52 thousands of barrels of oil. The estimate compares to the year-ago value of 52.60 thousands of barrels of oil.
Shares of Suncor Energy have demonstrated returns of -3.1% over the past month compared to the Zacks S&P 500 composite's +3.6% change. With a Zacks Rank #3 (Hold), SU is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Wall Street's Insights Into Key Metrics Ahead of Suncor Energy (SU) Q3 Earnings
In its upcoming report, Suncor Energy (SU - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.85 per share, reflecting a decline of 21.3% compared to the same period last year. Revenues are forecasted to be $8.28 billion, representing a year-over-year decrease of 13.5%.
Over the last 30 days, there has been an upward revision of 19.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Suncor Energy metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Total refined product sales per day' to reach 588.45 thousands of barrels of oil. Compared to the current estimate, the company reported 612.30 thousands of barrels of oil in the same quarter of the previous year.
The consensus among analysts is that 'Sales Volumes per day - Total Oil Sands operations' will reach 791.04 thousands of barrels of oil. Compared to the current estimate, the company reported 764.50 thousands of barrels of oil in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Crude oil processed per day - Eastern North America' should arrive at 224.22 thousands of barrels of oil. Compared to the current estimate, the company reported 235.40 thousands of barrels of oil in the same quarter of the previous year.
Analysts' assessment points toward 'Crude oil processed per day - Western North America' reaching 234.24 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 252.20 thousands of barrels of oil.
It is projected by analysts that the 'Crude oil processed per day - Total' will reach 458.46 thousands of barrels of oil. Compared to the present estimate, the company reported 487.60 thousands of barrels of oil in the same quarter last year.
The collective assessment of analysts points to an estimated 'Production Volumes per day - Oil Sands operations - non-upgraded bitumen' of 306.12 thousands of barrels of oil. The estimate compares to the year-ago value of 262.20 thousands of barrels of oil.
The consensus estimate for 'Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel)' stands at 484.92 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 513.80 thousands of barrels of oil.
According to the collective judgment of analysts, 'Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel)' should come in at 484.92 thousands of barrels of oil. The estimate compares to the year-ago value of 510.30 thousands of barrels of oil.
The average prediction of analysts places 'Sales Volumes per day - Oil Sands operations - non-upgraded bitumen' at 306.12 thousands of barrels of oil. Compared to the present estimate, the company reported 254.20 thousands of barrels of oil in the same quarter last year.
Analysts predict that the 'Production Volumes per day - Total Fort Hills bitumen production' will reach 184.30 thousands of barrels of oil. Compared to the present estimate, the company reported 166.00 thousands of barrels of oil in the same quarter last year.
Analysts expect 'Production Volumes per day - Total Syncrude production' to come in at 180.92 thousands of barrels of oil. Compared to the current estimate, the company reported 213.80 thousands of barrels of oil in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Production volumes per day - E&P Canada' will likely reach 51.52 thousands of barrels of oil. The estimate compares to the year-ago value of 52.60 thousands of barrels of oil.
View all Key Company Metrics for Suncor Energy here>>>Shares of Suncor Energy have demonstrated returns of -3.1% over the past month compared to the Zacks S&P 500 composite's +3.6% change. With a Zacks Rank #3 (Hold), SU is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .