Sunrun Inc. (RUN) Expected to Post Quarterly Sales of $149.44 Million
Wall Street brokerages forecast that Sunrun Inc. (NASDAQ:RUN) will announce $149.44 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sunrun’s earnings. The lowest sales estimate is $145.70 million and the highest is $153.17 million. Sunrun reported sales of $112.03 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.4%. The company is expected to issue its next quarterly earnings report on Thursday, November 9th.
According to Zacks, analysts expect that Sunrun will report full-year sales of $149.44 million for the current fiscal year, with estimates ranging from $533.90 million to $705.11 million. For the next fiscal year, analysts expect that the business will post sales of $811.61 million per share, with estimates ranging from $663.40 million to $959.81 million. Zacks Investment Research’s sales averages are an 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 Monday, August 7th. The energy company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $137.85 million during the quarter, compared to analysts’ expectations of $143.35 million. Sunrun had a return on equity of 8.76% and a net margin of 17.65%. Sunrun’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $0.31 earnings per share.
A number of research firms have weighed in on RUN. Zacks Investment Research raised Sunrun from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Friday, October 13th. BidaskClub cut Sunrun from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. ValuEngine cut Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Bank of America Corporation reaffirmed a “neutral” rating and set a $8.00 price objective (up from $7.75) on shares of Sunrun in a research report on Thursday, August 10th. Finally, Barclays PLC increased their price objective on Sunrun from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Sunrun currently has an average rating of “Buy” and an average target price of $9.15.
Sunrun (RUN) opened at 5.54 on Wednesday. Sunrun has a 12 month low of $4.15 and a 12 month high of $7.78. The stock has a market capitalization of $588.13 million, a PE ratio of 7.11 and a beta of -0.71. The company’s 50-day moving average price is $5.90 and its 200 day moving average price is $5.90.
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In related news, insider Steven Vassallo sold 33,576 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $7.16, for a total value of $240,404.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Edward Harris Fenster sold 115,094 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total value of $784,941.08. Following the completion of the transaction, the chairman now directly owns 2,371,439 shares of the company’s stock, valued at $16,173,213.98. The disclosure for this sale can be found here. 24.13% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd increased its stake in Sunrun by 30.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock valued at $159,000 after purchasing an additional 5,134 shares in the last quarter. California State Teachers Retirement System increased its stake in Sunrun by 21.0% in the 2nd quarter. California State Teachers Retirement System now owns 150,626 shares of the energy company’s stock valued at $1,072,000 after purchasing an additional 26,100 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Sunrun by 25.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,490 shares of the energy company’s stock valued at $480,000 after purchasing an additional 13,829 shares in the last quarter. State Street Corp increased its stake in Sunrun by 22.7% in the 2nd quarter. State Street Corp now owns 1,628,766 shares of the energy company’s stock valued at $11,596,000 after purchasing an additional 300,923 shares in the last quarter. Finally, Shelton Capital Management increased its stake in Sunrun by 54.9% in the 2nd quarter. Shelton Capital Management now owns 110,000 shares of the energy company’s stock valued at $783,000 after purchasing an additional 39,000 shares in the last quarter. 73.95% of the stock is owned by hedge funds and other institutional investors.
Sunrun Company Profile
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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