Analysts on Wall Street project that Suncor Energy (SU) will announce quarterly earnings of $2.14 per share in its forthcoming report, representing an increase of 319.6% year over year. Revenues are projected to reach $10.35 billion, increasing 20.4% from the same quarter last year.
The current level reflects a downward revision of 2.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over 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 usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Suncor Energy metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus estimate for 'Production Volumes per day - Total Oil Sands production' stands at 688.71 thousands of barrels of oil. Compared to the present estimate, the company reported 748.40 thousands of barrels of oil in the same quarter last year.
Analysts forecast 'Sales Volumes per day - Exploration and Production' to reach 64.55 thousands of barrels of oil. Compared to the present estimate, the company reported 65.00 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 688.72 thousands of barrels of oil. Compared to the present estimate, the company reported 747.80 thousands of barrels of oil in the same quarter last year.
The consensus among analysts is that 'Crude oil processed per day - Total' will reach 467.57 thousands of barrels of oil. The estimate compares to the year-ago value of 442.30 thousands of barrels of oil.
Analysts predict that the 'Production Volumes per day - Oil Sands operations - non-upgraded bitumen' will reach 193.65 thousands of barrels of oil. The estimate compares to the year-ago value of 310.20 thousands of barrels of oil.
Analysts' assessment points toward 'Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel)' reaching 495.06 thousands of barrels of oil. Compared to the present estimate, the company reported 438.20 thousands of barrels of oil in the same quarter last year.
Based on the collective assessment of analysts, 'Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel)' should arrive at 495.06 thousands of barrels of oil. Compared to the current estimate, the company reported 440.20 thousands of barrels of oil in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Sales Volumes per day - Oil Sands operations - non-upgraded bitumen' will likely reach 193.65 thousands of barrels of oil. The estimate compares to the year-ago value of 307.60 thousands of barrels of oil.
Analysts expect 'Production Volumes per day - Total Fort Hills bitumen production' to come in at 152.29 thousands of barrels of oil. Compared to the current estimate, the company reported 162.90 thousands of barrels of oil in the same quarter of the previous year.
According to the collective judgment of analysts, 'Production Volumes per day - Total Syncrude production' should come in at 191.20 thousands of barrels of oil. Compared to the current estimate, the company reported 196.50 thousands of barrels of oil in the same quarter of the previous year.
It is projected by analysts that the 'Production Volumes per day - E&P Canada' will reach 62.17 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 56.40 thousands of barrels of oil.
The collective assessment of analysts points to an estimated 'Production Volumes per day - E&P International' of 3.89 thousands of barrels of oil. Compared to the present estimate, the company reported 3.30 thousands of barrels of oil in the same quarter last year.
View all Key Company Metrics for Suncor Energy here>>>Over the past month, shares of Suncor Energy have returned +22.8% versus the Zacks S&P 500 composite's -1.5% change. Currently, SU carries a Zacks Rank #3 (Hold), suggesting that its performance may align with 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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