Canadian Imperial Bank of Commerce Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its target price increased by Canadian Imperial Bank of Commerce from C$70.00 to C$88.00 in a report released on Monday morning,BayStreet.CA reports.

SU has been the subject of a number of other reports. Raymond James Financial upped their price target on Suncor Energy from C$73.00 to C$76.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Desjardins increased their target price on shares of Suncor Energy from C$79.00 to C$85.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. lifted their price target on shares of Suncor Energy from C$59.00 to C$64.00 in a research report on Thursday, November 6th. UBS Group upped their price objective on shares of Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday, November 5th. Finally, National Bank Financial raised their price objective on Suncor Energy from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$74.07.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at C$79.05 on Monday. The firm has a fifty day moving average of C$69.58 and a two-hundred day moving average of C$62.18. The company has a debt-to-equity ratio of 40.74, a quick ratio of 0.83 and a current ratio of 1.39. The stock has a market capitalization of C$94.35 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.15 and a beta of 0.89. Suncor Energy has a 52 week low of C$43.59 and a 52 week high of C$80.12.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share (EPS) for the quarter. The business had revenue of C$12.04 billion for the quarter. Suncor Energy had a return on equity of 13.17% and a net margin of 12.10%. As a group, equities research analysts predict that Suncor Energy will post 4.4208333 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s dividend payout ratio is 47.63%.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.