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    SU   CA8672241079

SUNCOR ENERGY INC.

(SU)
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TSX notches biggest gain in 5-months on upbeat earnings

10/28/2021 | 04:30pm EST

(Adds investor quotes and details throughout; updates prices)

* TSX ends up 242.54 points, or 1.16%, at 21,197.53

* Shopify gains 7%; Suncor jumps 13.4%

* Energy ends 4.6% higher; technology advances 3.1%

TORONTO, Oct 28 (Reuters) - Canada's main stock index rallied on Thursday as corporate earnings boosted the shares of energy and technology stocks, with the index rebounding after two days of declines.

The Toronto Stock Exchange's S&P/TSX composite index ended up 242.54 points, or 1.16%, at 21,197.53, its biggest gain since June 1.

The index lost ground on Tuesday and Wednesday after notching on Monday a record closing high of 21,284.84.

"The biggest driver of the move today has been the strong results from Suncor and Shopify," said Bryden Teich, portfolio manager at Avenue Investment Management.

Canadian e-commerce giant Shopify Inc reported a 46% rise in quarterly revenue as consumer spending "normalizes" after a year of a pandemic-fueled online shopping frenzy. Its shares ended up 7%.

Shares of Canada's No. 2 oil and gas major Suncor Energy Inc jumped 13.4% after the company doubled its dividend. A rebound in crude prices from pandemic-driven lows helped it post a third-quarter profit compared with a year-ago loss.

The energy sector rose 4.6% to the highest level since April 2019, while the technology group added 3.1%.

Canada's GDP report for August is due on Friday, which could offer clues on the strength of the domestic economy.

On Wednesday, the Bank of Canada signaled it could hike interest rates as soon as April 2022 and said inflation would stay above target through much of next year, due to higher energy prices and supply bottlenecks. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru Editing by Marguerita Choy)


ę Reuters 2021
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Analyst Recommendations on SUNCOR ENERGY INC.
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Financials
Sales 2021 39 842 M 31 252 M 31 252 M
Net income 2021 4 288 M 3 363 M 3 363 M
Net Debt 2021 13 457 M 10 556 M 10 556 M
P/E ratio 2021 11,4x
Yield 2021 3,24%
Capitalization 46 308 M 36 212 M 36 324 M
EV / Sales 2021 1,50x
EV / Sales 2022 1,27x
Nbr of Employees 12 591
Free-Float 100,0%
Chart SUNCOR ENERGY INC.
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Suncor Energy Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends SUNCOR ENERGY INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 31,82 CAD
Average target price 39,52 CAD
Spread / Average Target 24,2%
EPS Revisions
Managers and Directors
Mark S. Little President, Chief Executive Officer & Director
Alister Cowan Chief Financial Officer & Executive Vice President
Michael M. Wilson Chairman
Bruno Francoeur Executive Vice President-Business & Operations
Eira Margaret Thomas Independent Director
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