In the latest trading session, Suncor Energy (SU) closed at $34.33, marking a +0.44% move from the previous day. This change outpaced the S&P 500's 0.14% gain on the day. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.
Coming into today, shares of the energy company had gained 8.3% in the past month. In that same time, the Oils-Energy sector gained 3.78%, while the S&P 500 lost 1.27%.
Wall Street will be looking for positivity from Suncor Energy as it approaches its next earnings report date. 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%. Our most recent consensus estimate is calling for quarterly revenue of $8.14 billion, down 29.47% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.56 per share and revenue of $33.77 billion. These totals would mark changes of -44.55% and -25.11%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Suncor Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 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. The Zacks Consensus EPS estimate has moved 6.91% higher within the past month. Suncor Energy is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Suncor Energy has a Forward P/E ratio of 9.61 right now. Its industry sports an average Forward P/E of 11.15, so we one might conclude that Suncor Energy is trading at a discount comparatively.
Meanwhile, SU's PEG ratio is currently 0.81. 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. SU's industry had an average PEG ratio of 0.61 as of yesterday's close.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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