FY2018 EPS Estimates for Suncor Energy Inc. Boosted by Analyst (SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Research analysts at Cormark raised their FY2018 earnings estimates for shares of Suncor Energy in a research report issued on Thursday, November 1st. Cormark analyst A. Arif now anticipates that the oil and gas producer will post earnings of $2.47 per share for the year, up from their previous forecast of $2.33. Cormark also issued estimates for Suncor Energy’s Q4 2018 earnings at $0.73 EPS, Q1 2019 earnings at $0.78 EPS, Q2 2019 earnings at $0.79 EPS, Q3 2019 earnings at $0.83 EPS and Q4 2019 earnings at $0.84 EPS.

SU has been the subject of a number of other reports. Macquarie raised Suncor Energy from a “neutral” rating to an “outperform” rating in a research report on Tuesday, October 9th. CIBC initiated coverage on Suncor Energy in a research report on Friday, October 5th. They set a “sector outperform” rating for the company. AltaCorp Capital raised Suncor Energy from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, October 17th. Zacks Investment Research raised Suncor Energy from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Tuesday, July 24th. Finally, GARP Research raised Suncor Energy from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $49.17.

Suncor Energy stock opened at $33.56 on Monday. Suncor Energy has a twelve month low of $31.33 and a twelve month high of $42.55. The company has a quick ratio of 0.56, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The company has a market cap of $54.28 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 1.43 and a beta of 0.98.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Suncor Energy had a return on equity of 11.08% and a net margin of 12.66%. The company had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same period last year, the firm earned $0.52 EPS.

Several institutional investors and hedge funds have recently bought and sold shares of SU. Bessemer Group Inc. acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $111,000. First Manhattan Co. lifted its holdings in shares of Suncor Energy by 136.0% in the 2nd quarter. First Manhattan Co. now owns 4,000 shares of the oil and gas producer’s stock valued at $162,000 after buying an additional 2,305 shares during the period. Hirtle Callaghan & Co LLC acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $163,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at approximately $187,000. Finally, Greenwich Investment Management Inc. acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $201,000. 65.59% of the stock is owned by institutional investors and hedge funds.

About Suncor Energy

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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