Royal Bank of Canada Lowers Suncor Energy (TSE:SU) Price Target to C$27.00

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Suncor Energy (TSE:SU) (NYSE:SU) had its target price lowered by investment analysts at Royal Bank of Canada from C$31.00 to C$27.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 50.25% from the company’s current price.

SU has been the topic of a number of other reports. Tudor Pickering reissued a “buy” rating and issued a C$34.00 price target on shares of Suncor Energy in a report on Monday. Canaccord Genuity cut their price target on shares of Suncor Energy from C$58.00 to C$40.00 in a report on Tuesday, March 10th. Raymond James cut their price target on shares of Suncor Energy from C$32.00 to C$27.00 and set an “outperform” rating on the stock in a report on Wednesday. Scotiabank cut their price target on shares of Suncor Energy from C$50.00 to C$49.00 in a report on Tuesday, January 14th. Finally, Tudor Pickering & Holt set a C$34.00 price target on shares of Suncor Energy and gave the stock a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of C$38.13.

Shares of TSE:SU opened at C$17.97 on Wednesday. The company’s 50-day moving average is C$31.92 and its 200 day moving average is C$39.21. The company has a debt-to-equity ratio of 42.74, a quick ratio of 0.57 and a current ratio of 0.94. The company has a market capitalization of $27.23 billion and a P/E ratio of 9.66. Suncor Energy has a fifty-two week low of C$14.02 and a fifty-two week high of C$46.00.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The company reported C$0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.66 by C($0.15). The company had revenue of C$9.60 billion for the quarter, compared to the consensus estimate of C$11.82 billion. As a group, research analysts predict that Suncor Energy will post 2.83 earnings per share for the current year.

In other Suncor Energy news, Senior Officer Michael Roderick Macsween sold 17,226 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of C$39.10, for a total transaction of C$673,541.77. Also, Senior Officer Kristopher Peter Smith acquired 8,500 shares of the company’s stock in a transaction on Monday, March 9th. The shares were acquired at an average cost of C$29.32 per share, for a total transaction of C$249,220.00. Following the completion of the acquisition, the insider now owns 21,582 shares of the company’s stock, valued at C$632,784.24.

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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