KeyCorp Comments on Sunrun Inc.’s Q1 2024 Earnings (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) – Analysts at KeyCorp issued their Q1 2024 earnings estimates for shares of Sunrun in a report released on Monday, April 22nd. KeyCorp analyst S. Karp forecasts that the energy company will post earnings per share of ($0.50) for the quarter. 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 Q2 2024 earnings at ($0.26) EPS, Q3 2024 earnings at $0.29 EPS and Q4 2024 earnings at ($0.72) EPS.

Other equities analysts also recently issued research reports about the stock. Mizuho cut their target price on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Susquehanna restated a “positive” rating and set a $25.00 price objective on shares of Sunrun in a research note on Friday, April 5th. BMO Capital Markets increased their target price on Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Truist Financial reissued a “hold” rating and set a $14.00 price target (down from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.26.

Sunrun Trading Down 2.4 %

NASDAQ RUN opened at $10.02 on Wednesday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -1.36 and a beta of 2.46. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. Sunrun has a one year low of $8.43 and a one year high of $23.85. The company’s 50 day moving average price is $12.12 and its 200 day moving average price is $13.20.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.13) by ($1.20). The firm had revenue of $516.59 million for the quarter, compared to analyst estimates of $499.74 million. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RUN. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Sunrun by 35.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,182,106 shares of the energy company’s stock worth $178,127,000 after acquiring an additional 3,748,696 shares during the last quarter. Norges Bank acquired a new stake in Sunrun during the 4th quarter worth about $23,186,000. Deutsche Bank AG lifted its stake in Sunrun by 112.9% during the third quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock valued at $27,969,000 after buying an additional 1,180,823 shares in the last quarter. Greenvale Capital LLP boosted its holdings in shares of Sunrun by 15.3% in the fourth quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after buying an additional 1,100,000 shares during the period. Finally, Masters Capital Management LLC purchased a new position in shares of Sunrun in the fourth quarter worth approximately $19,630,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Sunrun news, CRO Paul S. Dickson sold 10,412 shares of Sunrun stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $12.12, for a total transaction of $126,193.44. Following the sale, the executive now owns 298,717 shares of the company’s stock, valued at approximately $3,620,450.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CRO Paul S. Dickson sold 10,412 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.12, for a total value of $126,193.44. Following the completion of the sale, the executive now owns 298,717 shares of the company’s stock, valued at $3,620,450.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward Harris Fenster sold 172,920 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the transaction, the director now directly owns 1,261,317 shares in the company, valued at approximately $15,072,738.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 301,760 shares of company stock valued at $3,615,990. Insiders own 3.76% of the company’s stock.

Sunrun Company Profile

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.