Suncor Energy Inc. (SU) Forecasted to Earn Q3 2018 Earnings of $0.60 Per Share

Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Cormark raised their Q3 2018 EPS estimates for Suncor Energy in a report released on Tuesday. Cormark analyst A. Arif now forecasts that the company will post earnings of $0.60 per share for the quarter, up from their previous forecast of $0.59. Cormark also issued estimates for Suncor Energy’s Q4 2018 earnings at $0.62 EPS.

A number of other research firms have also weighed in on SU. Royal Bank of Canada raised their price objective on shares of Suncor Energy from C$45.00 to C$47.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. TD Securities upgraded 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 note on Friday, February 9th. GMP Securities raised their price objective on shares of Suncor Energy from C$42.00 to C$43.00 in a research note on Thursday, November 16th. Eight Capital set a C$56.00 price target on shares of Suncor Energy and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Finally, National Bank Financial lifted their price target on shares of Suncor Energy from C$49.00 to C$56.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Suncor Energy presently has an average rating of “Buy” and a consensus price target of C$51.54.

Shares of Suncor Energy (TSE SU) traded up C$0.28 during midday trading on Wednesday, reaching C$42.69. 666,566 shares of the company were exchanged, compared to its average volume of 2,991,666. Suncor Energy has a one year low of C$36.09 and a one year high of C$47.69. The stock has a market cap of $69,600.00, a PE ratio of 15.91 and a beta of 0.40.

In related news, Director Dominic D’alessandro bought 30,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were purchased at an average price of C$42.20 per share, with a total value of C$1,266,000.00.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, March 2nd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.32. Suncor Energy’s payout ratio is 46.64%.

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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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