Sunrun Inc. (RUN) Issues Earnings Results
Sunrun Inc. (NASDAQ:RUN) announced its earnings results on Monday. The energy company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03, Briefing.com reports. The company had revenue of $137.85 million during the quarter, compared to analysts’ expectations of $143.35 million. Sunrun had a net margin of 19.88% and a return on equity of 10.42%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share.
Sunrun (NASDAQ RUN) traded up 2.06% during midday trading on Monday, reaching $7.42. 1,052,213 shares of the company were exchanged. The firm’s 50-day moving average price is $6.86 and its 200 day moving average price is $5.71. Sunrun has a 52-week low of $4.15 and a 52-week high of $7.64. The stock has a market capitalization of $782.39 million, a price-to-earnings ratio of 8.65 and a beta of -0.69.
Institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Sunrun by 12.3% in the fourth quarter. State Street Corp now owns 1,033,026 shares of the energy company’s stock worth $5,485,000 after buying an additional 113,016 shares in the last quarter. Norges Bank purchased a new position in Sunrun during the fourth quarter worth approximately $4,280,000. Teachers Advisors LLC increased its position in Sunrun by 24.6% in the fourth quarter. Teachers Advisors LLC now owns 126,161 shares of the energy company’s stock worth $670,000 after buying an additional 24,909 shares in the last quarter. DnB Asset Management AS increased its position in Sunrun by 8.4% in the first quarter. DnB Asset Management AS now owns 4,746,526 shares of the energy company’s stock worth $25,631,000 after buying an additional 367,911 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Sunrun during the first quarter worth approximately $653,000. Hedge funds and other institutional investors own 71.63% of the company’s stock.
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RUN has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) set a $10.00 target price on shares of Sunrun and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research cut shares of Sunrun from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. Finally, ValuEngine upgraded shares of Sunrun from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $9.42.
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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