Suncor Energy (TSE:SU) Price Target Cut to C$43.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price dropped by GMP Securities from C$48.00 to C$43.00 in a note issued to investors on Friday, June 28th, BayStreet.CA reports. GMP Securities’ target price would indicate a potential upside of 5.68% from the company’s previous close.

Other equities analysts have also issued reports about the company. Raymond James reiterated a “buy” rating and issued a $21.00 price objective on shares of Colfax in a research note on Thursday, May 2nd. CIBC decreased their target price on WestJet Airlines from C$22.00 to C$21.00 in a research report on Tuesday, April 23rd. Canaccord Genuity lifted their target price on Suncor Energy from C$55.00 to C$60.00 in a research report on Monday, March 11th. National Bank Financial decreased their target price on Yangarra Resources from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Evercore ISI downgraded Suncor Energy from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from C$58.00 to C$54.00 in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of C$54.47.

TSE SU traded up C$0.04 during trading on Friday, hitting C$40.69. 2,008,600 shares of the company traded hands, compared to its average volume of 3,628,729. Suncor Energy has a 12 month low of C$35.53 and a 12 month high of C$55.47. The business’s fifty day simple moving average is C$41.31. The company has a debt-to-equity ratio of 43.32, a current ratio of 0.88 and a quick ratio of 0.55. The company has a market cap of $64.21 billion and a P/E ratio of 16.53.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Wednesday, May 1st. The company reported C$0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.51 by C$0.26. The company had revenue of C$9.40 billion for the quarter, compared to the consensus estimate of C$9.37 billion. On average, equities research analysts predict that Suncor Energy will post 3.4399998 EPS for the current fiscal year.

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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