Analysts Offer Predictions for Sunrun Inc.’s FY2024 Earnings (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) – Equities researchers at KeyCorp issued their FY2024 earnings per share estimates for Sunrun in a research note issued on Monday, April 22nd. KeyCorp analyst S. Karp forecasts that the energy company will post earnings per share of ($1.18) for the year. 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 FY2025 earnings at ($0.79) EPS, FY2026 earnings at ($0.40) EPS and FY2027 earnings at $0.06 EPS.

Several other research analysts have also weighed in on the company. Susquehanna reiterated a “positive” rating and issued a $25.00 price objective on shares of Sunrun in a research report on Friday, April 5th. Piper Sandler lowered their price target on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Mizuho lowered their price target on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, April 19th. BMO Capital Markets raised their price target on Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Finally, Janney Montgomery Scott lowered Sunrun from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.26.

Sunrun Trading Down 3.1 %

Shares of Sunrun stock opened at $9.71 on Thursday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -1.31 and a beta of 2.46. Sunrun has a fifty-two week low of $8.43 and a fifty-two week high of $23.85. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a 50 day moving average of $11.99 and a 200 day moving average of $13.17.

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

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently added to or reduced their stakes in the business. Robeco Schweiz AG boosted its stake in shares of Sunrun by 23.5% during the 1st quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock worth $60,777,000 after acquiring an additional 876,000 shares in the last quarter. Caliber Wealth Management LLC boosted its stake in shares of Sunrun by 10.7% during the 1st quarter. Caliber Wealth Management LLC now owns 206,837 shares of the energy company’s stock worth $2,726,000 after acquiring an additional 20,022 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Sunrun by 7.5% during the 1st quarter. New York State Teachers Retirement System now owns 264,792 shares of the energy company’s stock worth $3,490,000 after acquiring an additional 18,434 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Sunrun by 18.7% during the 1st quarter. Spire Wealth Management now owns 6,405 shares of the energy company’s stock worth $84,000 after acquiring an additional 1,010 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Sunrun by 76.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 107,800 shares of the energy company’s stock worth $1,421,000 after acquiring an additional 46,800 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Transactions at Sunrun

In other news, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the sale, the director now owns 1,261,317 shares in the company, valued at $15,072,738.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Edward Harris Fenster sold 172,920 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the transaction, the director now owns 1,261,317 shares of the company’s stock, valued at $15,072,738.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Danny Abajian sold 17,440 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $210,500.80. Following the transaction, the chief financial officer now directly owns 163,734 shares in the company, valued at approximately $1,976,269.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 301,760 shares of company stock worth $3,615,990. Corporate insiders own 3.76% of the company’s stock.

About Sunrun

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.