Desjardins Boosts Suncor Energy (TSE:SU) Price Target to C$59.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective raised by Desjardins from C$56.00 to C$59.00 in a research note issued on Tuesday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price objective points to a potential upside of 12.53% from the stock’s current price.

A number of other analysts have also recently weighed in on SU. BMO Capital Markets increased their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 22nd. TD Securities lifted their price objective on shares of Suncor Energy from C$52.00 to C$57.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. National Bankshares upped their price objective on shares of Suncor Energy from C$75.00 to C$79.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Wells Fargo & Company boosted their price target on shares of Suncor Energy from C$61.00 to C$66.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Finally, ATB Capital raised their price target on Suncor Energy from C$53.00 to C$57.50 and gave the company a “sector perform” rating in a report on Wednesday, May 22nd. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$61.75.

Suncor Energy Stock Performance

TSE SU traded down C$0.88 on Tuesday, reaching C$52.43. The stock had a trading volume of 1,075,637 shares, compared to its average volume of 8,018,423. The business’s 50-day moving average price is C$52.76 and its 200 day moving average price is C$49.65. The stock has a market cap of C$67.11 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 0.15 and a beta of 1.50. Suncor Energy has a 12-month low of C$39.05 and a 12-month high of C$56.69. The company has a debt-to-equity ratio of 36.00, a quick ratio of 0.83 and a current ratio of 1.51.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its earnings results on Tuesday, May 7th. The company reported C$1.41 EPS for the quarter, beating analysts’ consensus estimates of C$1.23 by C$0.18. Suncor Energy had a net margin of 15.85% and a return on equity of 18.64%. The business had revenue of C$12.53 billion during the quarter, compared to analysts’ expectations of C$11.81 billion. As a group, equities analysts expect that Suncor Energy will post 5.7081192 earnings per share for the current year.

Insider Activity at Suncor Energy

In related news, Senior Officer Kristopher Peter Smith sold 100,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$51.66, for a total transaction of C$5,165,900.00. 0.01% of the stock is owned by insiders.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.