Analysts Set Expectations for Suncor Energy FY2024 Earnings

Suncor Energy Inc. (TSE:SU - Free Report) NYSE: SU - Equities researchers at Raymond James boosted their FY2024 earnings per share (EPS) estimates for Suncor Energy in a research note issued on Wednesday, November 13th. Raymond James analyst M. Barth now anticipates that the company will post earnings of $5.29 per share for the year, up from their prior estimate 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.

Several other research analysts have also issued reports on the company. Jefferies Financial Group dropped their price target on shares of Suncor Energy from C$62.00 to C$55.00 and set a "hold" rating on the stock in a research report on Monday, September 16th. National Bankshares boosted their target price on Suncor Energy from C$73.00 to C$76.00 in a research note on Thursday. Scotiabank raised their target price on Suncor Energy from C$59.00 to C$62.00 in a research report on Wednesday. Wolfe Research upgraded Suncor Energy to a "strong-buy" rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada raised their target price on shares of Suncor Energy from C$64.00 to C$66.00 in a research note on Thursday. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$61.54.

Suncor Energy Stock Performance

Shares of SU traded up C$0.16 during midday trading on Friday, reaching C$57.00. The stock had a trading volume of 7,850,064 shares, compared to its average volume of 7,847,200. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98. The firm has a 50 day simple moving average of C$52.61 and a 200-day simple moving average of C$53.10. The firm has a market cap of C$72.39 billion, a PE ratio of 9.82, a P/E/G ratio of 0.15 and a beta of 1.47. Suncor Energy has a one year low of C$40.07 and a one year high of C$57.50.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Wednesday, September 4th. Suncor Energy's dividend payout ratio (DPR) is presently 37.46%.

Insider Buying and Selling

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the business's stock in a transaction 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. 0.01% of the stock is currently 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.