As of March 29th, 2022, Suncor Energy (SU) was closed at $32.59 in the recent trading session, moving to -0.49% compared to the earlier day. The change led to the lagging of S&P 500’s daily gain of 1.23%. Simultaneously, there was an addition of 0.97% by Dow, and tech giant NASDAQ registered a gain of 0.44%. More about the Suncor energy stock as you read ahead in the article.
Suncor Energy stock prices–How did they perform
Before trading on March 29th, the Suncor energy stock price gained 7.27% over the last month. This has caused the Oils-Energy sector’s gain of 7.99% and far exceeded the S&P 500’s gain that was recorded at 4.69% then.
It is anticipated that Suncor Energy is looking forward to exhibiting strength as its next date for the announcement of earnings nears. On the same day, the company is expected to forecast earnings of $1.06 per share, which would indicate a year-over-year growth figure of 171.79%.
By looking at the entire year’s progress, the Zacks Consensus Estimates state that the analysts are anticipating earnings of $3.86 per share, and revenue of $34.77 billion is on the cards. These changes recorded for Suncor energy will record changes of +89.22% and +11.48%, respectively, compared to the previous year.
Analysts also said that changes related to estimates by analysts assess the short-term trends of the company’s business. The company’s positive outlook can be assessed by looking at the trends and figures, which can be signs of optimism.
Research has also revealed that changes in the estimate are related to the price of near-term stocks. The Zacks Rank system can work wonders to derive benefits from the same.
Regarding valuation, the Suncor Energy stocks are trading at a Forward P/E ratio of 8.48. The PEG ratio of the company is 0.62. The PEG ratio helps hint at the stock’s anticipated earnings growth rate. The Oil and Gas-Integrated-Canadian sector presently has an average PEG ratio of 0.46, as reported on March 28th at closure.
The Oil and Gas-Integrated-Canadian sector forms a part of the Oils and Energy segment of the economy. It has a Zacks Industry ranking of 5 that places it in the top 2% of the 250 plus industries.