Suncor Energy (NYSE:SU) Announces Earnings Results

Suncor Energy (NYSE:SU) (TSE:SU) announced its earnings results on Tuesday. The oil and gas producer reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.51, Briefing.com reports. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.28%. Suncor Energy’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share.

Suncor Energy Stock Performance

NYSE:SU traded down $0.13 during midday trading on Friday, reaching $39.66. The stock had a trading volume of 4,024,791 shares, compared to its average volume of 4,484,905. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock has a market cap of $50.60 billion, a P/E ratio of 8.86, a P/E/G ratio of 3.37 and a beta of 1.12. The firm has a fifty day simple moving average of $38.09 and a two-hundred day simple moving average of $36.96. Suncor Energy has a 12-month low of $29.45 and a 12-month high of $41.50.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Raymond James raised Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research initiated coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.