NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Should you buy Suncor Energy stock ahead of earnings?

by July 27, 2022
written by July 27, 2022

Suncor Energy Inc. (SU:NYSE) has lost 11.44% in a month. That could attract bulls as oil prices continue to soar. That also considers that Suncor has returned 22.88% year-to-date. Thus, the latest decline is not due to weak company fundamentals or industry concerns. Instead, it could be due to investor profit taking as the stock soared to new all-time highs.

Suncor’s Energy PEG ratio stands at 0.96. That compares to a PEG ratio of Canadian integrated oil and gas sectors PEG of 0.37. The stock could be overvalued relative to the industry, but the ratio suggests a fairly priced stock.

Suncor Energy reports earnings on July 27. The company is expected to report per-share earnings of $1.74. The earnings are greater than the comparable quarter of last year of $0.39. With the latest strengths in the oil and gas sectors, the estimates are likely to be met.

Suncor Energy emerges from the $31 support

Source – TradingView

Technically, Suncor Energy is bullish ahead of the quarterly earnings. The stock is gaining strength from the $29 oversold support and is trading at $31. The 14-day moving average is joining support for the stock as bullish momentum develops.

Strong quarter earnings could be the trigger to push the price to resistance at 34 and beyond. The stock is currently a hold. New buyers should consider snapping the stock if the earnings surpass estimates.

Concluding thoughts

Suncor Energy reports earnings when the oil and gas sectors are booming. Investors hold high expectations. The stock could gain value if the quarter results meet or surpass estimates. Investors should hold or consider buying after the quarter results.

The post Should you buy Suncor Energy stock ahead of earnings? appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Caterpillar shows mixed signals as analysts bet on positive earnings
next post
What’s the bull case for AMD ahead of the quarter earnings?

You may also like

‘Utilities are a good gift to equity investors’:...

August 17, 2022

Geo Group stock is a buy on a...

August 16, 2022

Michael Burry is now long this one stock...

August 16, 2022

Cake DeFi: growth continued in Q2 despite crypto...

August 16, 2022

PayPal gets a rare upgrade to ‘outperform’

August 16, 2022

Should you buy Home Depot stock after solid...

August 16, 2022

Ted Baker shares shot up 20% on Tuesday:...

August 16, 2022

Jump Crypto to build new validator client for...

August 16, 2022

PIP unveils Binance integration to help bridge Web3...

August 16, 2022

Request Finance introduces new “salaries” feature for crypto...

August 16, 2022
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    Lessons From Penny Stock Legend Tim Grittani, the $13 Million Man!

  • 2

    Tesla Inc is on a ‘knife’s edge’ heading into the Q2 report: Analyst

  • 3

    How To Profit From Stock Market Inefficiencies {VIDEO}

  • 4

    Goldman Sachs Q2 results: ‘I’m astonished it could make this much money’

  • 5

    Pay Attention to These Stocks

Recent Posts

  • ‘Utilities are a good gift to equity investors’: David Bianco

    August 17, 2022
  • Geo Group stock is a buy on a retracement as the price breaks above a key level

    August 16, 2022
  • Michael Burry is now long this one stock ‘only’

    August 16, 2022
  • Cake DeFi: growth continued in Q2 despite crypto winter

    August 16, 2022
  • PayPal gets a rare upgrade to ‘outperform’

    August 16, 2022

Categories

  • Economy (104)
  • Editor's Pick (33)
  • Investing (274)
  • Stock (17)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2022 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick