Suncor Energy (NYSE:SU) Posts Quarterly Earnings Results, Beats Expectations By $0.49 EPS

Key Points

• Suncor Energy reported quarterly EPS of $2.84, beating analysts’ consensus estimate of $2.35 by $0.49.
• The shares slipped 0.2% to $75.30 in Tuesday trading, despite the earnings beat.
• Analysts’ consensus rating is Buy, with an average price target of $79.62; three analysts rate the stock Strong Buy and seven rate it Buy.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU posted its quarterly earnings results on Tuesday. The oil and gas producer reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.49, Zacks reports. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.

Suncor Energy Stock Down 0.2%

SU traded down $0.12 during trading on Tuesday, hitting $75.30. 5,361,600 shares of the company's stock traded hands, compared to its average volume of 4,590,621. The stock has a market capitalization of $88.07 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.26 and a beta of 0.36. The company's 50 day simple moving average is $71.20 and its two-hundred day simple moving average is $63.41. Suncor Energy has a 12-month low of $38.72 and a 12-month high of $80.25. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.

Wall Street Analysts Forecast Growth

SU has been the topic of several analyst reports. Desjardins raised Suncor Energy to a "moderate buy" rating in a report on Thursday, July 16th. Wall Street Zen upgraded Suncor Energy from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 17th. Zacks Research raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Morgan Stanley set a $106.00 price target on shares of Suncor Energy in a research note on Wednesday, August 19th. Finally, Weiss Ratings raised shares of Suncor Energy from a "buy (b)" rating to a "buy (a-)" rating in a research report on Thursday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $79.62.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada's major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.

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