Brokerages Anticipate Suncor Energy Inc. (SU) to Announce $0.77 Earnings Per Share

Brokerages expect Suncor Energy Inc. (NYSE:SU) (TSE:SU) to announce $0.77 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Suncor Energy’s earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $0.94. Suncor Energy reported earnings of $0.62 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 24.2%. The business is expected to issue its next earnings results on Thursday, February 14th.

On average, analysts expect that Suncor Energy will report full year earnings of $2.59 per share for the current financial year, with EPS estimates ranging from $2.33 to $3.13. For the next year, analysts anticipate that the firm will post earnings of $3.45 per share, with EPS estimates ranging from $2.65 to $4.46. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Suncor Energy.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.25. Suncor Energy had a return on equity of 11.11% and a net margin of 12.66%. The firm had revenue of $8.31 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company posted $0.52 EPS.

A number of research analysts recently weighed in on the company. Mizuho started coverage on Suncor Energy in a research note on Monday, July 23rd. They issued a “buy” rating on the stock. Zacks Investment Research lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday, July 20th. ValuEngine lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. JPMorgan Chase & Co. lowered Suncor Energy from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 11th. Finally, Raymond James reissued a “buy” rating on shares of Suncor Energy in a research note on Friday, November 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Suncor Energy has a consensus rating of “Buy” and a consensus target price of $49.17.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of Suncor Energy by 1.3% in the 3rd quarter. BlackRock Inc. now owns 30,109,542 shares of the oil and gas producer’s stock valued at $1,164,939,000 after purchasing an additional 397,537 shares in the last quarter. Capital Growth Management LP raised its position in Suncor Energy by 26.5% during the 3rd quarter. Capital Growth Management LP now owns 1,025,000 shares of the oil and gas producer’s stock worth $39,657,000 after purchasing an additional 215,000 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in Suncor Energy during the 3rd quarter worth $468,000. PNC Financial Services Group Inc. raised its position in Suncor Energy by 141.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,047,491 shares of the oil and gas producer’s stock worth $79,216,000 after purchasing an additional 1,199,413 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Suncor Energy by 24.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 249,280 shares of the oil and gas producer’s stock worth $9,648,000 after acquiring an additional 49,600 shares in the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SU traded down $0.47 during midday trading on Friday, reaching $33.64. 4,714,200 shares of the stock were exchanged, compared to its average volume of 3,430,157. Suncor Energy has a 12-month low of $31.33 and a 12-month high of $42.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.93 and a quick ratio of 0.59. The company has a market capitalization of $55.56 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.46 and a beta of 0.98.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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Earnings History and Estimates for Suncor Energy (NYSE:SU)

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