Sunrun Inc. Forecasted to Earn FY2024 Earnings of ($1.18) Per Share (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) – Investment analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for shares of Sunrun in a note issued to investors on Monday, April 22nd. KeyCorp analyst S. Karp expects that the energy company will post earnings of ($1.18) per share for the year. KeyCorp 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 FY2025 earnings at ($0.79) EPS, FY2026 earnings at ($0.40) EPS and FY2027 earnings at $0.06 EPS.

Sunrun (NASDAQ:RUN) last released its 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). Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The company had revenue of $516.59 million for the quarter, compared to analyst estimates of $499.74 million.

RUN has been the topic of several other research reports. Royal Bank of Canada dropped their price objective on Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. BMO Capital Markets upped their target price on shares of Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, February 22nd. Mizuho lowered their price target on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Truist Financial reaffirmed a “hold” rating and set a $14.00 price objective (down from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Finally, Susquehanna reissued a “positive” rating and issued a $25.00 target price on shares of Sunrun in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average target price of $21.26.

Sunrun Trading Down 2.4 %

RUN opened at $10.02 on Thursday. The business has a fifty day moving average price of $12.12 and a 200 day moving average price of $13.20. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.26 and a quick ratio of 0.96. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -1.36 and a beta of 2.46. Sunrun has a 12 month low of $8.43 and a 12 month high of $23.85.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently modified their holdings of the stock. C M Bidwell & Associates Ltd. lifted its position in shares of Sunrun by 1,483.9% during the third quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock worth $30,000 after purchasing an additional 2,211 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after purchasing an additional 764 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Sunrun by 149.7% during the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock worth $37,000 after purchasing an additional 1,127 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Sunrun by 69.8% during the third quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock worth $42,000 after purchasing an additional 1,375 shares in the last quarter. Finally, USCF Advisers LLC raised its holdings in Sunrun by 130.0% in the fourth quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after acquiring an additional 1,300 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 4,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total transaction of $58,539.60. Following the sale, the director now directly owns 1,403,915 shares of the company’s stock, valued at approximately $17,015,449.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sunrun news, CEO Mary Powell sold 5,424 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total transaction of $65,738.88. Following the sale, the chief executive officer now directly owns 411,628 shares of the company’s stock, valued at approximately $4,988,931.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 4,830 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $58,539.60. Following the completion of the sale, the director now directly owns 1,403,915 shares in the company, valued at $17,015,449.80. The disclosure for this sale can be found here. In the last three months, insiders sold 301,760 shares of company stock worth $3,615,990. 3.76% of the stock is owned by corporate insiders.

About Sunrun

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.