CIBC Trims Suncor Energy (TSE:SU) Target Price to C$55.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price lowered by CIBC from C$56.00 to C$55.00 in a research note published on Thursday morning, BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the company. Evercore ISI downgraded Suncor Energy from an outperform rating to an in-line rating and lowered their price objective for the stock from C$58.00 to C$54.00 in a research report on Wednesday, April 3rd. National Bank Financial lifted their price objective on Vermilion Energy from C$35.00 to C$36.00 and gave the stock an outperform rating in a report on Tuesday, July 16th. GMP Securities reiterated a buy rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. Raymond James reiterated a buy rating and issued a $21.00 price objective on shares of Colfax in a report on Thursday, May 2nd. Finally, Evercore downgraded Suncor Energy from an outperform rating to an in-line rating and decreased their price objective for the stock from C$58.00 to C$54.00 in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Suncor Energy has a consensus rating of Buy and an average price target of C$54.47.

Shares of SU opened at C$40.69 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 43.32. The stock has a market capitalization of $64.21 billion and a P/E ratio of 16.53. The firm’s 50 day simple moving average is C$41.31. Suncor Energy has a 12 month low of C$35.53 and a 12 month high of C$55.47.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings data on Wednesday, May 1st. The company reported C$0.77 earnings per share for the quarter, beating the consensus estimate of C$0.51 by C$0.26. The firm had revenue of C$9.40 billion for the quarter, compared to the consensus estimate of C$9.37 billion. Sell-side analysts anticipate that Suncor Energy will post 3.4399998 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 25th were given a $0.42 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.13%. Suncor Energy’s dividend payout ratio is currently 60.93%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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Analyst Recommendations for Suncor Energy (TSE:SU)

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