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Suncor Energy (SU) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·3 min read

Suncor Energy (SU) closed the most recent trading day at $28.30, moving -0.53% from the previous trading session. This change lagged the S&P 500's 2.44% gain on the day. Elsewhere, the Dow gained 1.65%, while the tech-heavy Nasdaq added 0.28%.

Coming into today, shares of the energy company had gained 15.18% in the past month. In that same time, the Oils-Energy sector gained 9.72%, while the S&P 500 lost 9.65%.

Suncor Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2022. On that day, Suncor Energy is projected to report earnings of $0.76 per share, which would represent year-over-year growth of 1185.71%. Our most recent consensus estimate is calling for quarterly revenue of $9.31 billion, up 83.9% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Suncor Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.75% higher. Suncor Energy is currently sporting a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Suncor Energy has a Forward P/E ratio of 8.38 right now. This valuation marks a discount compared to its industry's average Forward P/E of 9.03.

Also, we should mention that SU has a PEG ratio of 0.72. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SU's industry had an average PEG ratio of 0.53 as of yesterday's close.

The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 18% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Zacks Investment Research