Raymond James Raises Earnings Estimates for Suncor Energy

Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Analysts at Raymond James raised their FY2024 earnings per share estimates for Suncor Energy in a report released on Wednesday, November 13th. Raymond James analyst M. Barth now expects that the company will post earnings per share of $5.29 for the year, up from their previous 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.

Other analysts also recently issued research reports about the company. Desjardins raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday. TD Securities lifted their target price on Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. National Bankshares lifted their target price on Suncor Energy from C$73.00 to C$76.00 in a research note on Thursday. Royal Bank of Canada lifted their target price on Suncor Energy from C$64.00 to C$66.00 in a research note on Thursday. Finally, Scotiabank lifted their price objective on Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of C$61.54.

Suncor Energy Stock Up 0.3 %

SU stock opened at C$57.00 on Friday. Suncor Energy has a twelve month low of C$40.07 and a twelve month high of C$57.50. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98. The stock has a market cap of C$72.39 billion, a P/E ratio of 9.82, a PEG ratio of 0.15 and a beta of 1.47. The business’s 50-day moving average price is C$52.61 and its 200-day moving average price is C$53.10.

Suncor Energy Announces Dividend

The firm also recently disclosed 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 of this dividend was Wednesday, September 4th. Suncor Energy’s payout ratio is currently 37.46%.

Insiders Place Their Bets

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of C$56.54, for a total value of C$2,131,558.00. Company insiders own 0.01% of the company’s stock.

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.