Brokerages expect that Suncor Energy Inc. (NYSE:SU) (TSE:SU) will post $7.21 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Suncor Energy’s earnings. The highest sales estimate is $8.88 billion and the lowest is $5.70 billion. Suncor Energy posted sales of $8.08 billion in the same quarter last year, which suggests a negative year over year growth rate of 10.8%. The business is scheduled to issue its next quarterly earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Suncor Energy will report full year sales of $30.19 billion for the current year, with estimates ranging from $25.72 billion to $34.13 billion. For the next financial year, analysts forecast that the firm will report sales of $30.93 billion, with estimates ranging from $26.69 billion to $35.79 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Suncor Energy.
Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.38. The company had revenue of $7.07 billion during the quarter, compared to analyst estimates of $7.06 billion. Suncor Energy had a return on equity of 10.06% and a net margin of 10.03%. During the same period in the prior year, the company earned $0.60 earnings per share.
A number of hedge funds and other institutional investors have recently modified their holdings of SU. Wellington Management Group LLP lifted its position in shares of Suncor Energy by 3.4% during the 1st quarter. Wellington Management Group LLP now owns 71,042,307 shares of the oil and gas producer’s stock valued at $2,303,649,000 after acquiring an additional 2,313,686 shares during the last quarter. Vanguard Group Inc lifted its position in shares of Suncor Energy by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 45,511,913 shares of the oil and gas producer’s stock valued at $1,760,855,000 after acquiring an additional 1,077,378 shares during the last quarter. FIL Ltd lifted its position in shares of Suncor Energy by 4.4% during the 1st quarter. FIL Ltd now owns 44,367,061 shares of the oil and gas producer’s stock valued at $1,437,901,000 after acquiring an additional 1,862,871 shares during the last quarter. TD Asset Management Inc. lifted its position in shares of Suncor Energy by 1.7% during the 1st quarter. TD Asset Management Inc. now owns 38,746,904 shares of the oil and gas producer’s stock valued at $1,256,131,000 after acquiring an additional 630,678 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Suncor Energy by 3.5% during the 4th quarter. BlackRock Inc. now owns 31,170,360 shares of the oil and gas producer’s stock valued at $871,835,000 after acquiring an additional 1,060,818 shares during the last quarter. 65.02% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:SU traded up $0.40 during trading on Thursday, hitting $30.38. 2,910,696 shares of the company traded hands, compared to its average volume of 3,370,441. The firm has a market capitalization of $47.46 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.14. Suncor Energy has a one year low of $25.81 and a one year high of $42.55. The company has a current ratio of 0.88, a quick ratio of 0.56 and a debt-to-equity ratio of 0.34.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.3121 per share. This represents a $1.25 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Monday, June 3rd. Suncor Energy’s payout ratio is currently 62.00%.
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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