Analysts Issue Forecasts for Suncor Energy Inc.’s FY2018 Earnings (SU)
Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Equities research analysts at National Bank Financial issued their FY2018 EPS estimates for shares of Suncor Energy in a research report issued on Wednesday. National Bank Financial analyst T. Wood anticipates that the company will post earnings of $1.22 per share for the year. National Bank Financial has a “Outperform” rating and a $49.00 price objective on the stock.
Several other brokerages have also recently weighed in on SU. CIBC raised their target price on shares of Suncor Energy from C$53.00 to C$55.00 in a report on Thursday, November 16th. Royal Bank Of Canada raised their target price on shares of Suncor Energy from C$45.00 to C$47.00 and gave the company an “outperform” rating in a report on Friday, October 27th. GMP Securities raised their target price on shares of Suncor Energy from C$42.00 to C$43.00 in a report on Thursday, November 16th. AltaCorp Capital cut shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, July 28th. Finally, J P Morgan Chase & Co raised their target price on shares of Suncor Energy from C$39.00 to C$42.00 in a report on Thursday, September 14th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of C$48.92.
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Suncor Energy (TSE:SU) traded up C$0.31 during midday trading on Monday, hitting C$44.99. 1,619,570 shares of the stock traded hands, compared to its average volume of 2,656,466. Suncor Energy has a twelve month low of C$36.09 and a twelve month high of C$46.66.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 1st will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.28 dividend on an annualized basis and a yield of 2.85%. Suncor Energy’s payout ratio is currently 57.87%.
In other Suncor Energy news, insider Michael Roderick Macsween sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of C$46.00, for a total transaction of C$2,530,000.00. Also, insider Steven Walter Williams acquired 1,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of C$39.39 per share, for a total transaction of C$39,390.00. In the last three months, insiders have acquired 3,539 shares of company stock worth $146,553 and have sold 76,100 shares worth $3,440,074.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an 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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