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Is Suncor Energy (SU) A Buy Ahead of Q2 Earnings Announcement?
Integrated energy company Suncor Energy (SU - Free Report) is set to report second-quarter earnings results on Monday after the bell. A diverse company that engages in the exploration, production, and transportation of crude oil and other products, Suncor is a Zacks Rank #3 (Hold) stock. The company has exceeded the earnings mark in each of the last four quarters. With energy stocks coming back to the forefront as of late, is SU a buy?
Suncor is expected to post a profit of $0.59/share, which would translate to negative growth of -72.17% versus the same quarter last year. Estimates for the quarter have declined -35.16% over the past 60 days. Revenues are projected to have slipped -37.85% to $7.89 billion.
Energy stocks have responded well overall this earnings season despite reporting broad earnings declines. Suncor Energy has delivered a trailing four-quarter average earnings beat of 9.72%. SU stock has trailed the broader market this year along with the majority of the energy sector.