Suncor Energy (SU) closed the most recent trading day at $35.09, moving +1.04% from the previous trading session. This change outpaced the S&P 500's 1.22% loss on the day. At the same time, the Dow lost 0.83%, and the tech-heavy Nasdaq lost 1.56%.
Coming into today, shares of the energy company had gained 6.44% in the past month. In that same time, the Oils-Energy sector gained 4.83%, while the S&P 500 gained 0.54%.
Investors will be hoping for strength from Suncor Energy as it approaches its next earnings release. In that report, analysts expect Suncor Energy to post earnings of $0.79 per share. This would mark a year-over-year decline of 45.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.14 billion, down 29.47% from the year-ago period.
SU's full-year Zacks Consensus Estimates are calling for earnings of $3.56 per share and revenue of $33.77 billion. These results would represent year-over-year changes of -44.55% and -25.11%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 4.4% higher. Suncor Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Suncor Energy's current valuation metrics, including its Forward P/E ratio of 9.76. This represents a discount compared to its industry's average Forward P/E of 11.69.
We can also see that SU currently has a PEG ratio of 0.82. 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 0.62 based on yesterday's closing prices.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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