Suncor Energy (NYSE:SU) Announces Quarterly Earnings Results

Suncor Energy (NYSE:SU) (TSE:SU) announced its earnings results on Tuesday. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51, Briefing.com reports. Suncor Energy had a return on equity of 16.28% and a net margin of 14.40%. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same period in the prior year, the company posted $0.71 EPS. Suncor Energy’s quarterly revenue was up 10.1% on a year-over-year basis.

Suncor Energy Price Performance

Shares of SU stock traded down $0.13 during midday trading on Friday, reaching $39.66. 4,024,791 shares of the company were exchanged, compared to its average volume of 4,484,905. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.50. The company has a market cap of $50.60 billion, a P/E ratio of 8.83, a PEG ratio of 3.37 and a beta of 1.12. The company’s 50 day moving average price is $38.09 and its two-hundred day moving average price is $36.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.98%. Suncor Energy’s dividend payout ratio (DPR) is 35.63%.

Analysts Set New Price Targets

Several brokerages have weighed in on SU. Scotiabank decreased their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Raymond James raised shares of Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. The Goldman Sachs Group raised their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Wolfe Research started coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective for the company. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Suncor Energy Company Profile

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.