Suncor Energy (NYSE:SU) Announces Earnings Results, Beats Expectations By $0.49 EPS

Suncor Energy (NYSE:SU) (TSE:SU) released its quarterly earnings results on Tuesday. The oil and gas producer reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.49, Zacks reports. The company had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $11.85 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the prior year, the firm earned $1.48 earnings per share.

Suncor Energy Price Performance

Shares of NYSE:SU traded down $2.32 on Wednesday, hitting $73.13. The company had a trading volume of 885,954 shares, compared to its average volume of 4,572,179. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The company has a market cap of $85.54 billion, a PE ratio of 13.47, a PEG ratio of 0.26 and a beta of 0.22. Suncor Energy has a 52-week low of $40.49 and a 52-week high of $80.25. The business has a 50 day moving average of $71.36 and a 200 day moving average of $63.54.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Thursday, December 3rd will be given a C$0.66 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of C$0.60. This represents a $2.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is currently 31.86%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SU. Weiss Ratings raised Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Finally, Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $79.62.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.