Suncor Energy Inc. (SU) Price Target: Is It Set To Rise Or Fall In Price?

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Suncor Energy Inc. (NYSE:SU) finished Thursday with an addition of $0.11 to close at $31.38, an upside of 0.35 percent. An average of 3,094,700 shares of common stock have been traded in the last five days. There was a gain of $0.30 in the past week, and it reached a new high 34 times over the past 12 months. The last 20 days have seen an average of 6,028,275 shares traded, while the 50-day average volume stands at 5,413,852.

SU stock has decreased by -6.16% in the last month. The company shares reached their 1-month lowest point of $29.32 on 12/19/22. With the stock rallying to its 52-week high on 06/08/22, shares of the company touched a low of $24.66 and a high of $42.72 in 52 weeks. It has reached a new high 32 times so far this year and achieved 25.37% or $6.35 in price. In spite of this, the price is down -26.54% from the 52-week high.


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Valuation Metrics

Suncor Energy Inc. (SU) has a trailing price-to-earnings (P/E) ratio of 7.73. The stock’s beta is 1.28. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.00, the price-to-book (PB) ratio at 1.53, and the price-to-cash flow ratio at 5.26.

The company has a payout ratio of 43.70%. The company’s most recent quarterly dividend payment was $0.3911 a share, representing a up of 6.97% from $0.3656 last year. Its latest increase dividend $0.0255 reported on Wednesday November 16 2022.

Financial Health

The quick ratio of Suncor Energy Inc. for the three months ended September 29 was 0.90, and the current ratio was 1.30, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.42 and a total debt to equity ratio of 0.50 for the quarter ending September 29. Its gross profit as reported stood at $19.01 billion compared to revenue of $31.2 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Suncor Energy Inc.’s return on assets was 9.30%.

Earnings Surprise

For the three-month period that ended September 29, Suncor Energy Inc. had $101.88 million in cash and short-term investments compared to $1.91 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $2.22 billion in the quarter, while revenues were shrunk -13.59%. The analyst consensus anticipated Suncor Energy Inc.’s latest quarter earnings to come in at $1.35 per share, but it turned out to be $1.39, a 3.00% surprise. For the quarter, EBITDA amounted to $4.06 billion.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Suncor Energy Inc. (SU) price momentum. RSI 9-day as of the close on 29 December was 51.29%, suggesting the stock is Neutral, with historical volatility in this time frame at 37.08%.

As of today, SU’s price is $31.29 +0.97% or $0.30 from its 5-day moving average. SU is currently trading -4.53% lower than its 20-day SMA and +3.26% higher than its 100-day SMA. However, the stock’s current price level is +0.90% above the SMA50 and +5.62% above the SMA200.

The stochastic %K and %D were 81.94% and 89.11%, respectively, and the average true range (ATR) was 0.94. With the 14-day stochastic at 76.72% and the average true range at 1.01, the RSI (14) stands at 47.98%. The stock has reached 0.69 on the 9-day MACD Oscillator while the 14-day reading was at 0.79.

Analyst Ratings

Jefferies launched coverage on Suncor Energy Inc. (NYSE: SU) in its analyst report released on October 19, 2022. The firm assigned the stock a Hold rating. The consensus rating for Suncor Energy Inc. (SU) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell SU, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 13 others rate it as a “buy”.

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