Sunrun Inc. (NASDAQ:RUN) Forecasted to Earn Q1 2024 Earnings of ($0.50) Per Share

Sunrun Inc. (NASDAQ:RUN) – Equities researchers at KeyCorp issued their Q1 2024 EPS estimates for Sunrun in a report released on Monday, April 22nd. KeyCorp analyst S. Karp anticipates that the energy company will post earnings of ($0.50) per share for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Sunrun’s current full-year earnings is ($1.74) per share. KeyCorp also issued estimates for Sunrun’s Q2 2024 earnings at ($0.26) EPS, Q3 2024 earnings at $0.29 EPS and Q4 2024 earnings at ($0.72) EPS.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The business had revenue of $516.59 million during the quarter, compared to analyst estimates of $499.74 million.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Mizuho cut their price target on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Piper Sandler lowered their price objective on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Janney Montgomery Scott cut Sunrun from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Finally, Susquehanna reiterated a “positive” rating and set a $25.00 price target on shares of Sunrun in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and an average target price of $21.26.

Sunrun Trading Down 2.4 %

RUN opened at $10.02 on Wednesday. Sunrun has a 1-year low of $8.43 and a 1-year high of $23.85. The firm has a 50-day moving average price of $12.12 and a two-hundred day moving average price of $13.20. The stock has a market capitalization of $2.20 billion, a PE ratio of -1.36 and a beta of 2.46. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 1.68.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RUN. SG Americas Securities LLC bought a new stake in Sunrun during the 3rd quarter worth about $600,000. Hexagon Capital Partners LLC grew its stake in Sunrun by 69.8% in the third quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after purchasing an additional 1,375 shares in the last quarter. Xponance Inc. increased its position in shares of Sunrun by 15.8% during the 3rd quarter. Xponance Inc. now owns 30,143 shares of the energy company’s stock worth $379,000 after purchasing an additional 4,120 shares during the last quarter. Raymond James & Associates raised its stake in shares of Sunrun by 45.7% during the 3rd quarter. Raymond James & Associates now owns 126,750 shares of the energy company’s stock worth $1,592,000 after purchasing an additional 39,732 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Sunrun by 18.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 12,794 shares of the energy company’s stock valued at $161,000 after buying an additional 1,970 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alan Ferber bought 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $9.73 per share, for a total transaction of $97,300.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $97,300. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Sunrun news, CFO Danny Abajian sold 5,534 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $67,072.08. Following the completion of the transaction, the chief financial officer now owns 210,985 shares of the company’s stock, valued at approximately $2,557,138.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alan Ferber purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $9.73 per share, with a total value of $97,300.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $97,300. The disclosure for this purchase can be found here. Insiders sold 301,760 shares of company stock worth $3,615,990 over the last ninety days. 3.76% of the stock is currently owned by corporate insiders.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.