Cormark Brokers Reduce Earnings Estimates for Suncor Energy Inc. (SU)

Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Cormark lowered their Q2 2018 EPS estimates for shares of Suncor Energy in a note issued to investors on Tuesday, according to Zacks Investment Research. Cormark analyst A. Arif now forecasts that the company will post earnings per share of $0.43 for the quarter, down from their previous forecast of $0.47. Cormark also issued estimates for Suncor Energy’s FY2018 earnings at $2.28 EPS.

Other research analysts have also recently issued reports about the stock. CIBC increased their price target on shares of Suncor Energy from C$53.00 to C$55.00 in a research report on Thursday, November 16th. Royal Bank of Canada raised their target price on shares of Suncor Energy from C$47.00 to C$48.00 in a report on Thursday, November 16th. BMO Capital Markets raised their target price on shares of Suncor Energy from C$50.00 to C$52.00 in a report on Thursday, November 16th. GMP Securities raised their target price on shares of Suncor Energy from C$42.00 to C$43.00 in a report on Thursday, November 16th. Finally, Wells Fargo & Co raised their target price on shares of Suncor Energy from C$56.00 to C$59.00 in a report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Suncor Energy has an average rating of “Buy” and an average target price of C$51.54.

Suncor Energy (SU) opened at C$42.87 on Thursday. Suncor Energy has a 52-week low of C$36.09 and a 52-week high of C$47.69. The company has a market cap of $70,360.00, a P/E ratio of 16.00 and a beta of 0.40.

In other Suncor Energy news, Director Dominic D’alessandro purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average price of C$42.20 per share, with a total value of C$1,266,000.00.

The company 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 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 dividend yield of 3.36%. Suncor Energy’s dividend payout ratio (DPR) is currently 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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