Sunrun Inc. (NASDAQ:RUN) Expected to Post Quarterly Sales of $390.04 Million
Brokers expect Sunrun Inc. (NASDAQ:RUN – Get Rating) to post sales of $390.04 million for the current quarter, according to Zacks. Six analysts released Sunrun earnings estimates. The highest sales estimate is $421.90 million and the lowest is $346.04 million. Sunrun recorded sales of $334.79 million in the same quarter last year, suggesting a positive year-over-year growth rate of 16.5%. The company is expected to announce its next results on Wednesday, May 4.
On average, analysts expect Sunrun to report annual sales of $1.75 billion in the current fiscal year, with estimates ranging from $1.60 billion to $1.91 billion. For next year, analysts expect the company to register sales of $2.00 billion, with estimates ranging from $1.80 billion to $2.23 billion. Zacks sales averages are an average average based on a survey of research companies that track Sunrun.
Sunrun (NASDAQ:RUN – Get Rating) last released its quarterly earnings data on Thursday, February 17. The energy company reported ($0.19) EPS for the quarter, missing analyst consensus estimates of $0.10 per ($0.29). Sunrun had a negative net margin of 4.93% and a negative return on equity of 0.70%. During the same period of the previous year, the company posted ($0.06) EPS.
Several analysts have published reports on the company. Piper Sandler cut her price target on Sunrun from $77.00 to $57.00 in a Friday, January 7 report. Royal Bank of Canada cut its price target on Sunrun from $81.00 to $79.00 and set an “outperform” rating for the company in a Friday, November 5 report. Evercore ISI reissued a “buy” rating and set a price target of $75.00 on Sunrun shares in a report on Friday, February 18. TheStreet downgraded Sunrun from a “c-” rating to a “d+” rating in a Monday, December 20 report. Finally, Zacks Investment Research downgraded Sunrun from a “buy” rating to a “hold” rating in a Thursday, Nov. 4, research rating. Two analysts gave the stock a hold rating and eighteen gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $63.72.
In related news, insider Jeanna Steele sold 782 shares of Sunrun in a trade dated Friday, Dec. 17. The stock was sold at an average price of $33.85, for a total value of $26,470.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, COO Christopher Dawson sold 9,875 shares of Sunrun in a trade dated Wednesday, December 15. The stock was sold at an average price of $33.39, for a total value of $329,726.25. The disclosure of this sale can be found here. During the last quarter, insiders sold 30,136 shares of the company worth $954,953. Insiders of the company hold 4.40% of the shares of the company.
Several institutional investors have recently bought and sold shares of RUN. BlackRock Inc. increased its stake in Sunrun shares by 14.8% during the fourth quarter. BlackRock Inc. now owns 29,631,513 shares of the energy company worth $1,016,363,000 after purchasing an additional 3,814,952 shares during the period. Viking Global Investors LP increased its stake in Sunrun to 97.1% in the third quarter. Viking Global Investors LP now owns 8,800,183 shares of the energy company valued at $387,208,000 after buying an additional 4,336,069 shares last quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA increased its stake in Sunrun by 10.1% in the fourth quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA now owns 8,432,752 shares of the energy company valued at $289,243,000 after buying an additional 772,818 shares last quarter. BNP Paribas Asset Management Holding SA increased its stake in Sunrun by 55.8% in the third quarter. BNP Paribas Asset Management Holding SA now owns 7,659,934 shares of the energy company valued at $337,037,000 after buying an additional 2,742,575 shares last quarter. Finally, State Street Corp increased its stake in Sunrun shares by 3.8% during the 4th quarter. State Street Corp now owns 6,644,379 shares of the energy company worth $227,902,000 after buying an additional 244,354 shares last quarter. 98.02% of the shares are currently held by institutional investors and hedge funds.
Sunrun stock opened at $28.13 on Wednesday. The stock has a market capitalization of $5.86 billion, a PE ratio of -70.32 and a beta of 2.14. The company has a debt ratio of 0.95, a quick ratio of 1.03 and a current ratio of 1.53. Sunrun has a one-year low of $18.61 and a one-year high of $68.88. The stock has a fifty-day moving average of $27.92 and a 200-day moving average of $40.19.
Sunrun Company Profile (Get a rating)
SunRun, Inc. is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and installs solar power systems for homeowners through its direct-to-consumer channel. The company also offers plans such as monthly lease, full amount lease, purchase system and monthly loan.
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