Wall Street analysts forecast that Suncor Energy (SU) will report quarterly earnings of $0.77 per share in its upcoming release, pointing to a year-over-year decline of 13.5%. It is anticipated that revenues will amount to $8.48 billion, exhibiting a decrease of 5.1% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions 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.
Bearing this in mind, let's now explore the average estimates of specific Suncor Energy metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Total upstream production per day' at N/A. Compared to the present estimate, the company reported N/A in the same quarter last year.
It is projected by analysts that the 'Total refined product sales per day' will reach 638.78 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 613.30 thousands of barrels of oil.
The collective assessment of analysts points to an estimated 'Sales Volumes per day - Total Oil Sands operations' of 844.94 thousands of barrels of oil. The estimate compares to the year-ago value of 820.60 thousands of barrels of oil.
Analysts' assessment points toward 'Crude oil processed per day - Eastern North America' reaching 244.20 thousands of barrels of oil. Compared to the current estimate, the company reported 232.40 thousands of barrels of oil in the same quarter of the previous year.
According to the collective judgment of analysts, 'Crude oil processed per day - Western North America' should come in at 259.86 thousands of barrels of oil. The estimate compares to the year-ago value of 253.80 thousands of barrels of oil.
Analysts predict that the 'Crude oil processed per day - Total' will reach 504.06 thousands of barrels of oil. The estimate compares to the year-ago value of 486.20 thousands of barrels of oil.
The consensus among analysts is that 'Production Volumes per day - Oil Sands operations - non-upgraded bitumen' will reach 288.10 thousands of barrels of oil. Compared to the current estimate, the company reported 273.90 thousands of barrels of oil in the same quarter of the previous year.
Analysts forecast 'Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel)' to reach 556.84 thousands of barrels of oil. Compared to the present estimate, the company reported 543.60 thousands of barrels of oil in the same quarter last year.
The consensus estimate for 'Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel)' stands at 556.84 thousands of barrels of oil. The estimate compares to the year-ago value of 538.30 thousands of barrels of oil.
Based on the collective assessment of analysts, 'Sales Volumes per day - Oil Sands operations - non-upgraded bitumen' should arrive at 288.10 thousands of barrels of oil. Compared to the current estimate, the company reported 282.30 thousands of barrels of oil in the same quarter of the previous year.
Analysts expect 'Production Volumes per day - Total Fort Hills bitumen production' to come in at 188.91 thousands of barrels of oil. Compared to the current estimate, the company reported 161.70 thousands of barrels of oil in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Production Volumes per day - Total Syncrude production' will likely reach 198.34 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 214.90 thousands of barrels of oil.
View all Key Company Metrics for Suncor Energy here>>>
Suncor Energy shares have witnessed a change of +21% in the past month, in contrast to the Zacks S&P 500 composite's +0.9% move. With a Zacks Rank #3 (Hold), SU is expected closely follow the overall market performance in the near term. 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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