Suncor Energy (NYSE:SU) Posts Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Suncor Energy (NYSE:SU) (TSE:SU) issued its quarterly earnings results on Tuesday. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51, Briefing.com reports. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 earnings per share.

Suncor Energy Trading Up 4.5 %

Shares of NYSE SU traded up $1.67 during trading on Wednesday, hitting $38.69. 7,220,854 shares of the company traded hands, compared to its average volume of 4,487,371. The firm has a market capitalization of $49.58 billion, a P/E ratio of 8.62, a P/E/G ratio of 3.34 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $38.09 and a 200-day moving average price of $36.94. Suncor Energy has a 1 year low of $29.45 and a 1 year high of $41.50.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SU shares. The Goldman Sachs Group boosted their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Raymond James raised Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.75.

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.