Wall Street brokerages forecast that Sunrun Inc (NASDAQ:RUN) will report sales of $207.45 million for the current quarter, according to Zacks. Two analysts have provided estimates for Sunrun’s earnings, with the highest sales estimate coming in at $229.50 million and the lowest estimate coming in at $185.40 million. Sunrun posted sales of $204.96 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.2%. The company is expected to issue its next earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Sunrun will report full-year sales of $806.27 million for the current fiscal year, with estimates ranging from $754.72 million to $892.60 million. For the next fiscal year, analysts anticipate that the company will report sales of $849.88 million, with estimates ranging from $771.44 million to $926.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sunrun.
Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, August 7th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.18). Sunrun had a negative return on equity of 1.89% and a negative net margin of 2.84%. The company had revenue of $204.60 million for the quarter, compared to the consensus estimate of $198.78 million. During the same quarter last year, the company posted $0.06 EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year.
RUN has been the subject of several recent research reports. BidaskClub downgraded Sunrun from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Bank of America reiterated a “buy” rating and set a $23.50 price target (up previously from $17.50) on shares of Sunrun in a report on Thursday, April 25th. Roth Capital set a $24.00 price objective on Sunrun and gave the company a “buy” rating in a research note on Thursday, May 23rd. Goldman Sachs Group upgraded Sunrun from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, June 17th. Finally, Zacks Investment Research upgraded Sunrun from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 10th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Sunrun presently has an average rating of “Buy” and a consensus target price of $21.50.
Sunrun stock traded up $0.70 during trading on Wednesday, hitting $15.39. 2,037,900 shares of the company were exchanged, compared to its average volume of 2,425,521. The business’s 50 day moving average is $18.90 and its 200 day moving average is $16.46. Sunrun has a 52 week low of $8.81 and a 52 week high of $21.42. The company has a market capitalization of $1.78 billion, a P/E ratio of 66.91, a PEG ratio of 6.05 and a beta of 0.66. The company has a current ratio of 0.83, a quick ratio of 1.15 and a debt-to-equity ratio of 1.68.
In other Sunrun news, COO Christopher Dawson sold 8,190 shares of Sunrun stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.04, for a total transaction of $164,127.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tiger Global Management Llc acquired 728,798 shares of the stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $15.52 per share, with a total value of $11,310,944.96. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,294,486 shares of company stock valued at $58,600,273 and sold 306,099 shares valued at $6,006,175. Company insiders own 9.34% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. BSW Wealth Partners bought a new stake in shares of Sunrun in the 2nd quarter worth $114,000. Hershey Trust Co. bought a new stake in shares of Sunrun in the 2nd quarter worth $126,000. Ashfield Capital Partners LLC bought a new stake in shares of Sunrun in the 1st quarter worth $154,000. Rehmann Capital Advisory Group increased its holdings in shares of Sunrun by 222.9% in the 1st quarter. Rehmann Capital Advisory Group now owns 12,235 shares of the energy company’s stock worth $172,000 after purchasing an additional 8,446 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Sunrun by 7.7% in the 4th quarter. Legal & General Group Plc now owns 16,805 shares of the energy company’s stock worth $183,000 after purchasing an additional 1,205 shares in the last quarter. Institutional investors and hedge funds own 82.07% of the company’s stock.
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 energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.
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