Analysts predict that Suncor Energy Inc. (NYSE:SU) (TSE:SU) will post sales of $7.06 billion for the current quarter, according to Zacks. Three analysts have issued estimates for Suncor Energy’s earnings. The highest sales estimate is $7.74 billion and the lowest is $6.46 billion. Suncor Energy posted sales of $5.92 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 19.3%. The firm is expected to report its next earnings report on Wednesday, April 25th.
On average, analysts expect that Suncor Energy will report full-year sales of $7.06 billion for the current fiscal year, with estimates ranging from $25.31 billion to $30.58 billion. For the next year, analysts anticipate that the company will post sales of $28.75 billion per share, with estimates ranging from $27.27 billion to $30.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Suncor Energy.
SU has been the topic of several analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $51.00 price target on shares of Suncor Energy in a research note on Thursday, October 26th. Edward Jones raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, November 20th. Piper Jaffray Companies set a $46.00 price target on shares of Suncor Energy and gave the stock a “buy” rating in a research note on Friday. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Saturday, January 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $46.67.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 5th will be issued a dividend of $0.286 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.25. This represents a $1.14 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, March 2nd. Suncor Energy’s dividend payout ratio is presently 48.56%.
Hedge funds have recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new position in shares of Suncor Energy during the 4th quarter worth about $100,000. Cerebellum GP LLC purchased a new position in shares of Suncor Energy during the 4th quarter worth about $134,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Suncor Energy by 13.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock worth $136,000 after acquiring an additional 562 shares during the period. Forward Management LLC purchased a new position in shares of Suncor Energy during the 3rd quarter worth about $154,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Suncor Energy by 3.9% during the 2nd quarter. Advisory Services Network LLC now owns 6,470 shares of the oil and gas producer’s stock worth $189,000 after acquiring an additional 245 shares during the period. Institutional investors and hedge funds own 65.69% of the company’s stock.
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About Suncor Energy
Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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