Wall Street analysts expect Sunrun Inc (NASDAQ:RUN) to announce $175.90 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Sunrun’s earnings. The lowest sales estimate is $167.00 million and the highest is $184.80 million. Sunrun reported sales of $141.29 million in the same quarter last year, which indicates a positive year-over-year growth rate of 24.5%. The business is expected to announce its next earnings report on Wednesday, November 14th.
On average, analysts expect that Sunrun will report full year sales of $645.02 million for the current financial year, with estimates ranging from $599.56 million to $688.90 million. For the next fiscal year, analysts expect that the company will report sales of $719.63 million per share, with estimates ranging from $683.28 million to $757.20 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Sunrun.
Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Thursday, August 9th. The energy company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.31). Sunrun had a net margin of 20.26% and a return on equity of 7.49%. The firm had revenue of $170.50 million for the quarter, compared to analyst estimates of $167.64 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 30.6% on a year-over-year basis.
Several brokerages have commented on RUN. Bank of America upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.00 to $17.00 in a research report on Tuesday. They noted that the move was a valuation call. JMP Securities lowered their price objective on shares of Sunrun from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 30th. Zacks Investment Research downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Credit Suisse Group boosted their price objective on shares of Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, Roth Capital set a $18.00 price objective on shares of Sunrun and gave the company a “buy” rating in a research report on Thursday, August 9th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $14.82.
Shares of RUN opened at $13.09 on Friday. Sunrun has a one year low of $4.21 and a one year high of $16.44. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 0.59 and a beta of -0.87. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.50 and a quick ratio of 1.25.
In other news, Chairman Edward Harris Fenster sold 90,224 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $15.22, for a total transaction of $1,373,209.28. Following the completion of the transaction, the chairman now directly owns 2,281,215 shares in the company, valued at $34,720,092.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tiger Global Management Llc purchased 62,394 shares of the stock in a transaction dated Monday, July 2nd. The shares were bought at an average price of $13.58 per share, with a total value of $847,310.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 938,694 shares of company stock valued at $12,487,384 and have sold 229,540 shares valued at $3,332,186. 19.45% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Levin Capital Strategies L.P. acquired a new stake in Sunrun in the second quarter valued at $131,000. Mount Yale Investment Advisors LLC acquired a new stake in Sunrun in the first quarter valued at $139,000. Xact Kapitalforvaltning AB acquired a new stake in Sunrun in the second quarter valued at $204,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Sunrun by 36.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,366 shares of the energy company’s stock valued at $209,000 after purchasing an additional 6,200 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Sunrun by 47.6% in the first quarter. Victory Capital Management Inc. now owns 25,648 shares of the energy company’s stock valued at $229,000 after purchasing an additional 8,266 shares during the period. Institutional investors and hedge funds own 79.02% of the company’s stock.
Sunrun Company Profile
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing.
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