In the latest trading session, Suncor Energy (SU) closed at $30.01, marking a -1.38% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.65%. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 6.65%.
Coming into today, shares of the energy company had lost 9.38% in the past month. In that same time, the Oils-Energy sector lost 4.55%, while the S&P 500 gained 0.3%.
Wall Street will be looking for positivity from Suncor Energy as it approaches its next earnings report date. On that day, Suncor Energy is projected to report earnings of $0.96 per share, which would represent a year-over-year decline of 36.84%. Our most recent consensus estimate is calling for quarterly revenue of $8.28 billion, down 22.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.03 per share and revenue of $33.49 billion. These totals would mark changes of -37.23% and -25.73%, respectively, from last year.
Any recent changes to analyst estimates for Suncor Energy should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.94% lower. Suncor Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Suncor Energy currently has a Forward P/E ratio of 7.56. For comparison, its industry has an average Forward P/E of 8.21, which means Suncor Energy is trading at a discount to the group.
It is also worth noting that SU currently has a PEG ratio of 0.63. 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. The Oil and Gas - Integrated - Canadian was holding an average PEG ratio of 0.47 at yesterday's closing price.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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