Zacks: Analysts Anticipate Sunrun Inc. (RUN) Will Post Earnings of $0.12 Per Share
Brokerages predict that Sunrun Inc. (NASDAQ:RUN) will report earnings of $0.12 per share for the current quarter, according to Zacks. Two analysts have made estimates for Sunrun’s earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.07. Sunrun posted earnings of $0.16 per share during the same quarter last year, which would suggest a negative year over year growth rate of 25%. The firm is expected to announce its next earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Sunrun will report full-year earnings of $0.62 per share for the current fiscal year, with EPS estimates ranging from $0.50 to $0.75. For the next fiscal year, analysts expect that the business will report earnings of $1.41 per share, with EPS estimates ranging from $0.32 to $2.58. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Sunrun.
Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Monday, August 7th. The energy company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $137.85 million for the quarter, compared to analyst estimates of $143.35 million. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. Sunrun’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share.
A number of brokerages have recently issued reports on RUN. Bank of America Corporation reaffirmed a “neutral” rating and issued a $8.00 price objective (up previously from $7.75) on shares of Sunrun in a research note on Thursday, August 10th. Barclays PLC upped their price objective on shares of Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut shares of Sunrun from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) set a $10.00 price objective on shares of Sunrun and gave the company a “buy” rating in a research note on Tuesday, June 20th. Finally, BidaskClub cut shares of Sunrun from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.33.
In other Sunrun news, insider Steven Vassallo sold 33,576 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $7.16, for a total transaction of $240,404.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Edward Harris Fenster sold 115,094 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total transaction of $784,941.08. Following the sale, the chairman now directly owns 2,371,439 shares of the company’s stock, valued at approximately $16,173,213.98. The disclosure for this sale can be found here. 24.13% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in RUN. Vanguard Group Inc. boosted its position in Sunrun by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 5,483,858 shares of the energy company’s stock valued at $29,613,000 after buying an additional 375,782 shares during the period. Atlantic Trust Group LLC purchased a new stake in Sunrun during the 1st quarter valued at $1,645,000. State Street Corp boosted its position in Sunrun by 22.7% during the 2nd quarter. State Street Corp now owns 1,628,766 shares of the energy company’s stock valued at $11,596,000 after buying an additional 300,923 shares during the period. FMR LLC boosted its position in Sunrun by 1.8% during the 1st quarter. FMR LLC now owns 15,691,308 shares of the energy company’s stock valued at $84,733,000 after buying an additional 270,000 shares during the period. Finally, Northern Trust Corp boosted its position in Sunrun by 31.0% during the 2nd quarter. Northern Trust Corp now owns 872,704 shares of the energy company’s stock valued at $6,214,000 after buying an additional 206,421 shares during the period. 73.58% of the stock is owned by institutional investors and hedge funds.
Sunrun (NASDAQ RUN) opened at 7.04 on Friday. Sunrun has a one year low of $4.15 and a one year high of $7.78. The firm has a market cap of $747.37 million, a price-to-earnings ratio of 9.04 and a beta of -0.64. The stock’s 50 day moving average is $7.06 and its 200-day moving average is $5.94.
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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