Gerdes Energy Research Issues Pessimistic Forecast for Suncor Energy (TSE:SU) Stock Price

Key Points

• Gerdes Energy Research has reduced its price target for Suncor Energy from C$79.00 to C$77.00, indicating a potential upside of 32.55% from the current price.
• Despite the decrease in price objective, several other brokerages have increased their price targets for Suncor Energy, with an average price target of C$63.67 and a consensus rating of "Moderate Buy."
• Suncor Energy's stock recently traded down 0.8% to C$58.09 and reported a quarterly earnings of C$0.71 per share, with a return on equity of 18.10% and a net margin of 15.15%.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price objective decreased by equities research analysts at Gerdes Energy Research from C$79.00 to C$77.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Gerdes Energy Research's price objective indicates a potential upside of 32.55% from the stock's current price.

A number of other brokerages have also recently weighed in on SU. TD Securities upped their price objective on shares of Suncor Energy from C$62.00 to C$63.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Scotiabank raised their price target on Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. Wells Fargo & Company upped their price target on shares of Suncor Energy from C$59.00 to C$60.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Desjardins increased their price target on shares of Suncor Energy from C$64.00 to C$65.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group upped their price target on Suncor Energy from C$53.00 to C$57.00 in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average price target of C$63.67.

Suncor Energy Stock Down 0.8%

Shares of TSE:SU traded down C$0.46 during trading on Thursday, hitting C$58.09. The stock had a trading volume of 1,439,118 shares, compared to its average volume of 8,185,406. The company has a market capitalization of C$70.48 billion, a PE ratio of 12.80, a PEG ratio of 0.15 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The firm's fifty day moving average is C$54.46 and its 200 day moving average is C$52.17. Suncor Energy has a 12 month low of C$43.59 and a 12 month high of C$58.71.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last released its quarterly earnings results on Tuesday, August 5th. The company reported C$0.71 earnings per share for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. Analysts anticipate that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Insider Activity at Suncor Energy

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of C$55.99, for a total transaction of C$1,432,478.57. Also, Director Russell Girling purchased 10,000 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of C$53.48 per share, for a total transaction of C$534,790.00. Following the completion of the transaction, the director directly owned 45,000 shares of the company's stock, valued at approximately C$2,406,555. This trade represents a 28.57% increase in their position. Insiders own 0.01% of the company's stock.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company. The company's operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company's PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.

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