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%.
WARNING: This story was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/16/suncor-energy-inc-su-forecasted-to-earn-q3-2018-earnings-of-0-60-per-share.html.
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.
Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.