$7.21 Billion in Sales Expected for Suncor Energy Inc. (SU) This Quarter

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.

Several equities analysts have recently commented on SU shares. Credit Suisse Group raised Suncor Energy from a “neutral” rating to an “outperform” rating in a report on Thursday, March 14th. GMP Securities reaffirmed a “hold” rating and set a $47.00 target price on shares of Suncor Energy in a report on Thursday, February 7th. Macquarie raised Suncor Energy from a “neutral” rating to an “outperform” rating and set a $33.30 price objective for the company in a report on Thursday, February 7th. TheStreet lowered Suncor Energy from a “b-” rating to a “c+” rating in a report on Monday, February 11th. Finally, Raymond James reissued a “buy” rating on shares of Suncor Energy in a report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.48.

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.

Featured Article: Understanding Relative Strength Index

Get a free copy of the Zacks research report on Suncor Energy (SU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Suncor Energy (NYSE:SU)

Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.