Cormark Comments on Suncor Energy Inc.’s Q2 2018 Earnings (SU)

Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Equities research analysts at Cormark dropped their Q2 2018 earnings estimates for shares of Suncor Energy in a report issued on Tuesday. Cormark analyst A. Arif now expects that the company will post earnings per share of $0.43 for the quarter, down from their prior estimate of $0.47. Cormark also issued estimates for Suncor Energy’s FY2018 earnings at $2.28 EPS.

SU has been the topic of several other research reports. Wells Fargo & Co increased their price objective on shares of Suncor Energy from C$56.00 to C$59.00 in a research note on Thursday, January 11th. BMO Capital Markets increased their price objective on shares of Suncor Energy from C$50.00 to C$52.00 in a research note on Thursday, November 16th. TD Securities lowered shares of Suncor Energy from a “buy” rating to a “hold” rating and set a C$50.00 price objective on the stock. in a research note on Thursday, November 16th. Eight Capital set a C$56.00 price objective on shares of Suncor Energy and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada increased their price objective on shares of Suncor Energy from C$47.00 to C$48.00 in a research note on Thursday, November 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Suncor Energy currently has a consensus rating of “Buy” and an average price target of C$51.54.

Shares of Suncor Energy (TSE SU) opened at C$42.52 on Thursday. The firm has a market cap of $69,780.00, a PE ratio of 15.87 and a beta of 0.40. Suncor Energy has a 12 month low of C$36.09 and a 12 month high of C$47.69.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Monday, March 5th will be given a $0.36 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, March 2nd. This represents a $1.44 annualized dividend and a yield of 3.39%. Suncor Energy’s dividend 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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