Q4 2022 EPS Estimates for Suncor Energy Inc. (NYSE:SU) Lowered by Analyst

Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) – Equities research analysts at Jefferies Financial Group cut their Q4 2022 earnings estimates for shares of Suncor Energy in a note issued to investors on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now expects that the oil and gas producer will post earnings of $1.35 per share for the quarter, down from their previous forecast of $1.48. Jefferies Financial Group currently has a “Hold” rating on the stock. The consensus estimate for Suncor Energy’s current full-year earnings is $5.73 per share. Jefferies Financial Group also issued estimates for Suncor Energy’s FY2024 earnings at $4.60 EPS.

Several other equities research analysts have also recently weighed in on the stock. Credit Suisse Group cut their price objective on shares of Suncor Energy from C$63.00 to C$60.00 in a research report on Monday, November 21st. Wells Fargo & Company cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 10th. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday, November 4th. National Bank Financial upped their price objective on Suncor Energy from C$54.00 to C$57.00 in a research note on Wednesday, January 11th. Finally, Royal Bank of Canada lowered their price objective on Suncor Energy from C$55.00 to C$54.00 in a research note on Wednesday, November 30th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.33.

Suncor Energy Price Performance

NYSE:SU opened at $33.12 on Thursday. Suncor Energy has a one year low of $25.27 and a one year high of $42.72. The company has a market cap of $44.30 billion, a P/E ratio of 7.60, a P/E/G ratio of 0.56 and a beta of 1.25. The firm’s fifty day moving average price is $32.36 and its two-hundred day moving average price is $32.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.26 and a quick ratio of 0.91.

Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) last announced its quarterly earnings data on Wednesday, November 2nd. The oil and gas producer reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.04. The business had revenue of $11.54 billion for the quarter, compared to analyst estimates of $9.74 billion. Suncor Energy had a net margin of 14.23% and a return on equity of 27.23%.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 23rd. Investors of record on Friday, December 2nd were given a $0.3911 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, December 1st. This represents a $1.56 dividend on an annualized basis and a yield of 4.72%. Suncor Energy’s payout ratio is presently 35.55%.

Institutional Trading of Suncor Energy

Several hedge funds and other institutional investors have recently bought and sold shares of SU. Hanson & Doremus Investment Management increased its stake in shares of Suncor Energy by 143.5% during the fourth quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 465 shares during the period. Howard Financial Services LTD. bought a new stake in Suncor Energy in the third quarter worth $29,000. Ronald Blue Trust Inc. bought a new stake in Suncor Energy in the second quarter worth $34,000. Corsicana & Co. bought a new stake in Suncor Energy in the second quarter worth $35,000. Finally, Toth Financial Advisory Corp boosted its holdings in Suncor Energy by 400.0% in the second quarter. Toth Financial Advisory Corp now owns 1,000 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 58.04% of the company’s stock.

About Suncor Energy

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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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.