FY2024 EPS Estimates for Suncor Energy Inc. (TSE:SU) Raised by Analyst

Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Investment analysts at Raymond James lifted their FY2024 earnings per share estimates for Suncor Energy in a research report issued to clients and investors on Wednesday, August 7th. Raymond James analyst M. Barth now forecasts that the company will post earnings of $5.02 per share for the year, up from their previous forecast of $5.01. Raymond James currently has a “Market Perform” rating and a $52.00 price objective on the stock. The consensus estimate for Suncor Energy’s current full-year earnings is $5.71 per share. Raymond James also issued estimates for Suncor Energy’s FY2025 earnings at $4.72 EPS, FY2026 earnings at $4.20 EPS and FY2027 earnings at $4.20 EPS.

Several other brokerages have also recently weighed in on SU. Scotiabank reduced their price target on Suncor Energy from C$61.00 to C$60.00 in a research report on Friday, July 12th. Jefferies Financial Group boosted their target price on Suncor Energy from C$54.00 to C$62.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Royal Bank of Canada boosted their target price on Suncor Energy from C$65.00 to C$67.00 in a research report on Thursday. Desjardins boosted their target price on Suncor Energy from C$56.00 to C$59.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Finally, National Bankshares boosted their target price on Suncor Energy from C$75.00 to C$77.00 in a research report on Thursday. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$61.96.

Suncor Energy Price Performance

Shares of TSE SU opened at C$54.48 on Friday. The stock has a market cap of C$69.73 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.15 and a beta of 1.50. Suncor Energy has a fifty-two week low of C$40.07 and a fifty-two week high of C$56.69. The company has a debt-to-equity ratio of 36.00, a quick ratio of 0.83 and a current ratio of 1.51. The stock has a fifty day moving average of C$52.24 and a 200-day moving average of C$50.55.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 35.91%.

Insider Transactions at Suncor Energy

In other news, Senior Officer Kristopher Peter Smith sold 100,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$51.66, for a total value of C$5,165,900.00. Corporate insiders own 0.01% of the company’s stock.

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.