Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Investment analysts at Cormark cut their Q2 2018 EPS estimates for Suncor Energy in a research report issued on Tuesday. Cormark analyst A. Arif now forecasts that the company will post earnings of $0.43 per share for the quarter, down from their prior estimate of $0.47. Cormark also issued estimates for Suncor Energy’s FY2018 earnings at $2.28 EPS.
Other analysts have also issued reports about the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a C$52.00 target price on the stock in a research note on Friday, February 9th. Barclays boosted their target price on Suncor Energy from C$50.00 to C$52.00 in a research note on Friday, February 9th. Royal Bank of Canada boosted their target price on Suncor Energy from C$45.00 to C$47.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. GMP Securities boosted their target price on Suncor Energy from C$42.00 to C$43.00 in a research note on Thursday, November 16th. Finally, Raymond James Financial boosted their target price on Suncor Energy from C$47.00 to C$52.00 and gave the company an “outperform” rating in a research note on Monday, December 4th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of C$51.54.
In related news, Director Dominic D’alessandro acquired 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average cost of C$42.20 per share, for a total transaction of C$1,266,000.00.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Monday, March 5th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, March 2nd. Suncor Energy’s payout ratio is presently 46.64%.
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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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