Suncor Energy (TSE:SU) Cut to "Neutral" at Gerdes Energy Research

Key Points

• Gerdes Energy Research downgraded Suncor Energy from “buy” to “neutral,” while slightly raising its price target to C$97.00. The new target still implies about 6.5% upside from the prior close.
• Analyst sentiment remains generally constructive overall, with other firms recently raising price targets and the stock carrying a consensus rating of “Moderate Buy” and a consensus target price of C$95.88.
• Suncor’s shares traded at C$91.06 on Wednesday near their 52-week high of C$96.53, and the company recently reported C$1.93 EPS on C$14.48 billion in revenue for the quarter.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU was downgraded by analysts at Gerdes Energy Research from a "buy" rating to a "neutral" rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have a C$97.00 price target on the stock, up from their previous price target of C$96.00. Gerdes Energy Research's price objective points to a potential upside of 6.52% from the company's previous close.

SU has been the subject of a number of other reports. TD boosted their target price on shares of Suncor Energy from C$113.00 to C$116.00 and gave the company a "buy" rating in a research note on Wednesday. Raymond James Financial raised their price target on shares of Suncor Energy from C$76.00 to C$93.00 in a research note on Monday, March 30th. BMO Capital Markets lifted their price target on Suncor Energy from C$85.00 to C$100.00 in a report on Wednesday, April 1st. Scotia boosted their price objective on Suncor Energy from C$85.00 to C$90.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 21st. Finally, Canadian Imperial Bank of Commerce increased their price objective on Suncor Energy from C$88.00 to C$92.00 in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Suncor Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of C$95.88.

Suncor Energy Stock Performance

SU stock traded up C$1.22 during mid-day trading on Wednesday, reaching C$91.06. The company had a trading volume of 1,219,994 shares, compared to its average volume of 6,482,392. The company has a quick ratio of 0.83, a current ratio of 1.42 and a debt-to-equity ratio of 32.36. The stock has a market capitalization of C$107.52 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.15 and a beta of 0.17. Suncor Energy has a one year low of C$52.95 and a one year high of C$96.53. The stock's 50-day simple moving average is C$85.25 and its two-hundred day simple moving average is C$81.57.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last released its quarterly earnings results on Tuesday, May 5th. The company reported C$1.93 EPS for the quarter. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. The business had revenue of C$14.48 billion during the quarter. Research analysts anticipate that Suncor Energy will post 4.4208333 EPS for the current year.

About Suncor Energy

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.