Suncor Energy Inc. to Post Q2 2018 Earnings of $0.43 Per Share, Cormark Forecasts (SU)

Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Cormark dropped their Q2 2018 earnings per share estimates for Suncor Energy in a research report issued to clients and investors on Tuesday. Cormark analyst A. Arif now anticipates that the company will post earnings of $0.43 per share for the quarter, down from their previous estimate of $0.47. Cormark also issued estimates for Suncor Energy’s FY2018 earnings at $2.28 EPS.

Several other equities research analysts have also recently issued reports on SU. Barclays lifted their price objective on shares of Suncor Energy from C$50.00 to C$52.00 in a research report on Friday, February 9th. Royal Bank of Canada lifted their price objective on shares of Suncor Energy from C$49.00 to C$52.00 in a research report on Friday, February 9th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a C$52.00 price objective for the company in a research report on Friday, February 9th. Eight Capital set a C$56.00 price objective on shares of Suncor Energy and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Finally, Wells Fargo & Co lifted their price objective on shares of Suncor Energy from C$56.00 to C$59.00 in a research report on Thursday, January 11th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of C$51.54.

Suncor Energy (SU) opened at C$43.36 on Thursday. Suncor Energy has a 1 year low of C$36.09 and a 1 year high of C$47.69. The company has a market cap of $71,160.00, a P/E ratio of 16.18 and a beta of 0.40.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 5th will be given a dividend of $0.36 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, March 2nd. Suncor Energy’s payout ratio is 46.64%.

In related news, Director Dominic D’alessandro purchased 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average cost of C$42.20 per share, for a total transaction of C$1,266,000.00.

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About Suncor Energy

Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

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