Raymond James Increases Earnings Estimates for Suncor Energy

Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Equities researchers at Raymond James upped their FY2024 earnings estimates for shares of Suncor Energy in a research report issued to clients and investors on Wednesday, November 13th. Raymond James analyst M. Barth now forecasts that the company will post earnings per share of $5.29 for the year, up from their prior forecast of $5.02. The consensus estimate for Suncor Energy’s current full-year earnings is $4.42 per share. Raymond James also issued estimates for Suncor Energy’s FY2025 earnings at $4.86 EPS and FY2028 earnings at $4.51 EPS.

A number of other research analysts also recently issued reports on the company. Desjardins raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday. Scotiabank boosted their price target on Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday. Jefferies Financial Group cut their price target on Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a report on Monday, September 16th. TD Securities lifted their price objective on shares of Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. Finally, Royal Bank of Canada increased their target price on shares of Suncor Energy from C$64.00 to C$66.00 in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$61.54.

Suncor Energy Stock Performance

Shares of SU stock opened at C$57.00 on Friday. The stock has a market capitalization of C$72.39 billion, a PE ratio of 9.79, a PEG ratio of 0.15 and a beta of 1.47. The business’s 50 day simple moving average is C$52.72 and its 200 day simple moving average is C$53.12. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. Suncor Energy has a one year low of C$40.07 and a one year high of C$57.50.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were paid a $0.545 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.18 annualized dividend and a dividend yield of 3.82%. Suncor Energy’s payout ratio is presently 37.46%.

Insider Activity

In related news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of Suncor Energy stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of C$56.54, for a total value of C$2,131,558.00. Insiders own 0.01% of the company’s stock.

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.