Brokers Offer Predictions for Suncor Energy Inc.’s Q4 2022 Earnings (TSE:SU)

Suncor Energy Inc. (TSE:SUGet Rating) (NYSE:SU) – Equities researchers at Jefferies Financial Group dropped their Q4 2022 earnings per share (EPS) estimates for Suncor Energy in a research report issued to clients and investors on Monday, January 23rd. Jefferies Financial Group analyst L. Byrne now anticipates that the company will post earnings of $1.69 per share for the quarter, down from their prior forecast of $1.80. Jefferies Financial Group currently has a “Hold” rating and a $44.00 target price on the stock. The consensus estimate for Suncor Energy’s current full-year earnings is $6.33 per share. Jefferies Financial Group also issued estimates for Suncor Energy’s FY2023 earnings at $5.51 EPS.

Suncor Energy (TSE:SUGet Rating) (NYSE:SU) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported C$1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.89 by C($0.01). The business had revenue of C$15.06 billion during the quarter, compared to analysts’ expectations of C$12.89 billion.

A number of other brokerages have also recently commented on SU. Scotiabank reduced their price objective on Suncor Energy from C$56.00 to C$53.00 in a research note on Wednesday, November 30th. Raymond James cut their price target on Suncor Energy from C$53.00 to C$50.00 and set a “market perform” rating on the stock in a research note on Monday, January 16th. JPMorgan Chase & Co. boosted their price target on Suncor Energy from C$51.00 to C$52.00 in a research note on Tuesday, January 17th. CIBC cut their price target on Suncor Energy from C$65.00 to C$60.00 in a research note on Friday, October 7th. Finally, CSFB cut their price target on Suncor Energy from C$63.00 to C$60.00 in a research note on Monday, November 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$51.27.

Suncor Energy Price Performance

SU stock opened at C$44.78 on Tuesday. The stock has a 50-day moving average price of C$43.40 and a two-hundred day moving average price of C$42.93. Suncor Energy has a 12-month low of C$32.65 and a 12-month high of C$53.62. The company has a current ratio of 1.26, a quick ratio of 0.83 and a debt-to-equity ratio of 50.42. The company has a market cap of C$60.41 billion and a PE ratio of 8.04.

Insider Activity

In related news, Senior Officer Paul Douglas Gardner sold 20,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of C$49.27, for a total value of C$985,386.00.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 23rd. Stockholders of record on Friday, December 23rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, December 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 4.64%. Suncor Energy’s dividend payout ratio is 31.96%.

About Suncor Energy

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Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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Earnings History and Estimates for Suncor Energy (TSE:SU)

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