Desjardins Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Key Points

• Desjardins raised the price target for Suncor Energy from C$64.00 to C$65.00, indicating a potential upside of 21.65% based on the current stock price.
• Investment analysts have mixed ratings on Suncor Energy, with five analysts suggesting a hold, seven recommending a buy, and one issuing a strong buy, resulting in an average rating of "Moderate Buy."
• Suncor Energy reported a quarterly earnings per share (EPS) of C$0.71 and has a market capitalization of C$67.01 billion with a PE ratio of 8.44.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its target price boosted by equities research analysts at Desjardins from C$64.00 to C$65.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price target suggests a potential upside of 21.61% from the company's previous close.

SU has been the subject of a number of other research reports. ATB Capital increased their target price on shares of Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Suncor Energy from C$63.00 to C$62.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group raised their price objective on shares of Suncor Energy from C$48.00 to C$53.00 in a report on Monday, July 14th. Scotiabank lifted their price target on shares of Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company lifted their target price on 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. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Suncor Energy presently has an average rating of "Moderate Buy" and an average price target of C$62.67.

Suncor Energy Stock Down 0.9%

Shares of Suncor Energy stock traded down C$0.49 during trading on Thursday, hitting C$53.45. 5,627,742 shares of the stock were exchanged, compared to its average volume of 7,994,301. Suncor Energy has a 12-month low of C$43.59 and a 12-month high of C$58.58. The stock has a market cap of C$67.04 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The firm's 50-day moving average price is C$53.23 and its 200 day moving average price is C$52.23.

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

Insider Buying and Selling at Suncor Energy

In other Suncor Energy news, Director Russell Girling purchased 10,000 shares of Suncor Energy stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average price of C$50.41 per share, with a total value of C$504,100.00. Also, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the 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 value of C$1,432,478.57. 0.01% of the stock is owned by insiders.

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.