Cormark Research Analysts Reduce Earnings Estimates for Suncor Energy Inc. (SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Research analysts at Cormark reduced their Q2 2018 EPS estimates for Suncor Energy in a report issued on Tuesday. Cormark analyst A. Arif now anticipates that the oil and gas producer will earn $0.34 per share for the quarter, down from their prior estimate of $0.37. Cormark also issued estimates for Suncor Energy’s FY2018 earnings at $1.80 EPS.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity reissued a “buy” rating and set a $51.00 price target on shares of Suncor Energy in a report 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. Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Saturday, January 20th. AltaCorp Capital reaffirmed a “hold” rating and issued a $51.00 target price on shares of Suncor Energy in a research note on Monday, January 15th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $47.00 target price on shares of Suncor Energy in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $46.67.

Suncor Energy (NYSE SU) opened at $33.99 on Thursday. Suncor Energy has a 1-year low of $27.96 and a 1-year high of $38.39. The stock has a market cap of $55,880.00, a PE ratio of 15.81, a P/E/G ratio of 2.17 and a beta of 0.80. The company has a current ratio of 1.00, a quick ratio of 0.64 and a debt-to-equity ratio of 0.29.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC bought a new position in shares of Suncor Energy in the fourth quarter worth about $100,000. Cerebellum GP LLC bought a new stake in shares of Suncor Energy during the fourth quarter worth approximately $134,000. IFG Advisory LLC bought a new stake in shares of Suncor Energy during the fourth quarter worth approximately $371,000. Avestar Capital LLC bought a new stake in shares of Suncor Energy during the fourth quarter worth approximately $148,000. Finally, Forward Management LLC bought a new stake in shares of Suncor Energy during the third quarter worth approximately $154,000. 65.69% of the stock is owned by institutional investors.

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 paid a $0.286 dividend. The ex-dividend date is Friday, March 2nd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.25. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.37%. Suncor Energy’s payout ratio is currently 46.98%.

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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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