FY2019 EPS Estimates for Suncor Energy Inc. Lifted by Analyst (SU)

Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Analysts at National Bank Financial increased their FY2019 earnings estimates for shares of Suncor Energy in a note issued to investors on Monday. National Bank Financial analyst T. Wood now forecasts that the company will post earnings of $3.17 per share for the year, up from their previous forecast of $3.15. National Bank Financial has a “Outperform” rating and a $56.00 price target on the stock.

SU has been the topic of several other research reports. Wells Fargo & Co increased their price target on shares of Suncor Energy from C$56.00 to C$59.00 in a research report on Thursday, January 11th. BMO Capital Markets increased their price target on shares of Suncor Energy from C$50.00 to C$52.00 in a research report on Thursday, November 16th. Royal Bank of Canada increased their price target on shares of Suncor Energy from C$49.00 to C$52.00 in a research report on Friday, February 9th. CIBC increased their price target on shares of Suncor Energy from C$50.00 to C$53.00 in a research report on Tuesday, October 17th. Finally, TD Securities increased their price target on shares of Suncor Energy from C$49.00 to C$50.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Suncor Energy has an average rating of “Buy” and an average price target of C$51.54.

Shares of Suncor Energy (TSE:SU) traded up C$0.43 on Wednesday, hitting C$42.63. 2,079,418 shares of the stock traded hands, compared to its average volume of 2,986,199. Suncor Energy has a 12 month low of C$36.09 and a 12 month high of C$47.69. The company has a market capitalization of $69,260.00, a PE ratio of 19.65 and a beta of 0.40.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Monday, March 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 3.38%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.32. Suncor Energy’s dividend payout ratio (DPR) is currently 57.87%.

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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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