Wall Street analysts forecast that Suncor Energy (SU) will report quarterly earnings of $0.50 per share in its upcoming release, pointing to a year-over-year decline of 46.2%. It is anticipated that revenues will amount to $7.65 billion, exhibiting a decrease of 19.7% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
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 a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Suncor Energy metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Total refined product sales per day' will reach 493.77 thousands of barrels of oil. Compared to the current estimate, the company reported 594.70 thousands of barrels of oil in the same quarter of the previous year.
Analysts' assessment points toward 'Sales Volumes per day - Total Oil Sands operations' reaching 730.66 thousands of barrels of oil. The estimate compares to the year-ago value of 726.40 thousands of barrels of oil.
Analysts forecast 'Crude oil processed per day - Eastern North America' to reach 202.02 thousands of barrels of oil. Compared to the current estimate, the company reported 169.80 thousands of barrels of oil in the same quarter of the previous year.
Analysts expect 'Crude oil processed per day - Western North America' to come in at 195.20 thousands of barrels of oil. Compared to the current estimate, the company reported 169.80 thousands of barrels of oil in the same quarter of the previous year.
The consensus estimate for 'Crude oil processed per day - Total' stands at 397.22 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 430.00 thousands of barrels of oil.
It is projected by analysts that the 'Production Volumes per day - Oil Sands operations - non-upgraded bitumen' will reach 265.67 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 254.30 thousands of barrels of oil.
The combined assessment of analysts suggests that 'Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel)' will likely reach 464.99 thousands of barrels of oil. The estimate compares to the year-ago value of 461.70 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 464.99 thousands of barrels of oil. The estimate compares to the year-ago value of 453.80 thousands of barrels of oil.
The collective assessment of analysts points to an estimated 'Sales Volumes per day - Oil Sands operations - non-upgraded bitumen' of 265.67 thousands of barrels of oil. Compared to the current estimate, the company reported 272.60 thousands of barrels of oil in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Production Volumes per day - Total Fort Hills bitumen production' should arrive at 157.14 thousands of barrels of oil. The estimate compares to the year-ago value of 166.90 thousands of barrels of oil.
The average prediction of analysts places 'Production Volumes per day - Total Syncrude production' at 212.74 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 171.10 thousands of barrels of oil.
The consensus among analysts is that 'Production volumes per day - E&P Canada' will reach 47.50 thousands of barrels of oil. The estimate compares to the year-ago value of 49.00 thousands of barrels of oil.
View all Key Company Metrics for Suncor Energy here>>>
Shares of Suncor Energy have demonstrated returns of +1.8% over the past month compared to the Zacks S&P 500 composite's +0.6% change. With a Zacks Rank #3 (Hold), SU is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Suncor Energy Inc. (SU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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