In its upcoming report, Suncor Energy (SU) is predicted by Wall Street analysts to post quarterly earnings of $2.35 per share, reflecting an increase of 119.6% compared to the same period last year. Revenues are forecasted to be $10.71 billion, representing a year-over-year increase of 16.4%.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts’ collective reassessment of their initial projections during this period.
Ahead of a company’s earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts’ projections for specific key metrics can offer valuable insights.
That said, let’s delve into the average estimates of some Suncor Energy metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, ‘Total upstream production per day’ should arrive at 867.44 thousands of barrels of oil. Compared to the present estimate, the company reported 870.00 thousands of barrels of oil in the same quarter last year.
Analysts predict that the ‘Sales Volumes per day – Exploration and Production’ will reach 61.73 thousands of barrels of oil. Compared to the present estimate, the company reported 67.40 thousands of barrels of oil in the same quarter last year.
The average prediction of analysts places ‘Sales Volumes per day – Total Oil Sands operations’ at 804.43 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 819.80 thousands of barrels of oil.
Analysts forecast ‘Crude oil processed per day – Total’ to reach 466.55 thousands of barrels of oil. The estimate compares to the year-ago value of 491.70 thousands of barrels of oil.
Analysts expect ‘Production Volumes per day – Oil Sands production – non-upgraded bitumen’ to come in at 270.98 thousands of barrels of oil. Compared to the present estimate, the company reported 268.10 thousands of barrels of oil in the same quarter last year.
The consensus among analysts is that ‘Production Volumes per day – Oil Sands production – Upgraded (SCO and Diesel)’ will reach 537.45 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 544.10 thousands of barrels of oil.
According to the collective judgment of analysts, ‘Sales Volumes per day – Oil Sands operations – Upgraded (SCO and Diesel)’ should come in at 537.45 thousands of barrels of oil. Compared to the current estimate, the company reported 541.90 thousands of barrels of oil in the same quarter of the previous year.
The consensus estimate for ‘Sales Volumes per day – Oil Sands operations – non-upgraded bitumen’ stands at 266.98 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 277.90 thousands of barrels of oil.
The collective assessment of analysts points to an estimated ‘Production Volumes per day – Total Fort Hills bitumen production’ of 183.33 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 184.10 thousands of barrels of oil.
It is projected by analysts that the ‘Production Volumes per day – Total Syncrude production’ will reach 190.18 thousands of barrels of oil. The estimate compares to the year-ago value of 200.70 thousands of barrels of oil.
Analysts’ assessment points toward ‘Production Volumes per day – E&P Canada’ reaching 60.74 thousands of barrels of oil. Compared to the current estimate, the company reported 55.60 thousands of barrels of oil in the same quarter of the previous year.
The combined assessment of analysts suggests that ‘Total Refinery Utilization’ will likely reach 91.3%. Compared to the current estimate, the company reported 106.0% in the same quarter of the previous year.
View all Key Company Metrics for Suncor Energy here>>>
Over the past month, shares of Suncor Energy have returned +14.3% versus the Zacks S&P 500 composite’s +0.9% change. Currently, SU carries a Zacks Rank #1 (Strong Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
