Wall Street analysts expect Suncor Energy (SU) to post quarterly earnings of $2.14 per share in its upcoming report, which indicates a year-over-year increase of 319.6%. Revenues are expected to be $10.35 billion, up 20.4% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 2.3% 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.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation 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.
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 expect 'Production Volumes per day - Total Oil Sands production' to come in at 688.71 thousands of barrels of oil. Compared to the current estimate, the company reported 748.40 thousands of barrels of oil in the same quarter of the previous year.
The consensus among analysts is that 'Sales Volumes per day - Exploration and Production' will reach 64.55 thousands of barrels of oil. The estimate compares to the year-ago value of 65.00 thousands of barrels of oil.
Analysts forecast 'Sales Volumes per day - Total Oil Sands operations' to reach 688.72 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 747.80 thousands of barrels of oil.
The consensus estimate for 'Crude oil processed per day - Total' stands at 467.57 thousands of barrels of oil. Compared to the present estimate, the company reported 442.30 thousands of barrels of oil in the same quarter last year.
It is projected by analysts that the 'Production Volumes per day - Oil Sands operations - non-upgraded bitumen' will reach 193.65 thousands of barrels of oil. Compared to the present estimate, the company reported 310.20 thousands of barrels of oil in the same quarter last year.
The collective assessment of analysts points to an estimated 'Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel)' of 495.06 thousands of barrels of oil. Compared to the current estimate, the company reported 438.20 thousands of barrels of oil in the same quarter of the previous year.
Analysts predict that the 'Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel)' will reach 495.06 thousands of barrels of oil. The estimate compares to the year-ago value of 440.20 thousands of barrels of oil.
The average prediction of analysts places 'Sales Volumes per day - Oil Sands operations - non-upgraded bitumen' at 193.65 thousands of barrels of oil. Compared to the current estimate, the company reported 307.60 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 Fort Hills bitumen production' should come in at 152.29 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 162.90 thousands of barrels of oil.
Based on the collective assessment of analysts, 'Production Volumes per day - Total Syncrude production' should arrive at 191.20 thousands of barrels of oil. Compared to the present estimate, the company reported 196.50 thousands of barrels of oil in the same quarter last year.
The combined assessment of analysts suggests that 'Production Volumes per day - E&P Canada' will likely reach 62.17 thousands of barrels of oil. Compared to the present estimate, the company reported 56.40 thousands of barrels of oil in the same quarter last year.
Analysts' assessment points toward 'Production Volumes per day - E&P International' reaching 3.89 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 3.30 thousands of barrels of oil.
Shares of Suncor Energy have demonstrated returns of +22.2% over the past month compared to the Zacks S&P 500 composite's +0.2% 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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