Analysts expect that Sunrun Inc (NASDAQ:RUN) will post $175.90 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sunrun’s earnings. The lowest sales estimate is $167.00 million and the highest is $184.80 million. Sunrun reported sales of $141.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 24.5%. The business is expected to announce its next earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Sunrun will report full-year sales of $645.02 million for the current financial year, with estimates ranging from $599.56 million to $688.90 million. For the next financial year, analysts expect that the company will post sales of $719.63 million per share, with estimates ranging from $683.28 million to $757.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Sunrun.
Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Thursday, August 9th. The energy company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.31). Sunrun had a net margin of 20.26% and a return on equity of 7.49%. The firm had revenue of $170.50 million for the quarter, compared to analyst estimates of $167.64 million. During the same period last year, the company earned $0.23 EPS. The company’s revenue was up 30.6% compared to the same quarter last year.
A number of equities research analysts recently commented on RUN shares. ValuEngine downgraded Sunrun from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, July 18th. JMP Securities reiterated a “buy” rating and issued a $21.00 price objective on shares of Sunrun in a report on Monday, July 16th. Credit Suisse Group upped their price objective on Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, August 10th. Finally, Roth Capital set a $18.00 price objective on Sunrun and gave the company a “buy” rating in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $14.82.
Shares of RUN traded down $0.45 during trading hours on Friday, hitting $12.68. 59,838 shares of the stock traded hands, compared to its average volume of 1,778,625. The company has a quick ratio of 1.25, a current ratio of 1.50 and a debt-to-equity ratio of 1.37. Sunrun has a 1-year low of $4.21 and a 1-year high of $16.44. The firm has a market capitalization of $1.45 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.70 and a beta of -0.87.
In related news, major shareholder Tiger Global Management Llc purchased 62,394 shares of Sunrun stock in a transaction that occurred on Monday, July 2nd. The stock was purchased at an average cost of $13.58 per share, with a total value of $847,310.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lynn Michelle Jurich sold 131,004 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $14.13, for a total value of $1,851,086.52. Following the transaction, the chief executive officer now directly owns 2,984,586 shares of the company’s stock, valued at $42,172,200.18. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 938,694 shares of company stock valued at $12,487,384 and have sold 229,540 shares valued at $3,332,186. 19.45% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Sunrun by 1.2% in the second quarter. FMR LLC now owns 16,349,797 shares of the energy company’s stock valued at $215,000,000 after buying an additional 190,267 shares during the last quarter. BlackRock Inc. increased its stake in shares of Sunrun by 4.2% during the second quarter. BlackRock Inc. now owns 6,286,214 shares of the energy company’s stock worth $82,664,000 after purchasing an additional 252,109 shares during the period. Millennium Management LLC increased its stake in shares of Sunrun by 99.1% during the first quarter. Millennium Management LLC now owns 3,998,203 shares of the energy company’s stock worth $35,704,000 after purchasing an additional 1,989,808 shares during the period. Van ECK Associates Corp increased its stake in shares of Sunrun by 3.5% during the second quarter. Van ECK Associates Corp now owns 2,613,646 shares of the energy company’s stock worth $34,369,000 after purchasing an additional 88,500 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of Sunrun by 10.3% during the first quarter. Handelsbanken Fonder AB now owns 1,504,848 shares of the energy company’s stock worth $13,438,000 after purchasing an additional 140,668 shares during the period. 79.02% of the stock is owned by hedge funds and other institutional investors.
Sunrun Company Profile
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.
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