Equities Analysts Offer Predictions for Sunrun Inc.'s Q1 2024 Earnings (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN - Free Report) - Investment analysts at KeyCorp issued their Q1 2024 EPS estimates for shares of Sunrun in a research report issued on Monday, April 22nd. KeyCorp analyst S. Karp anticipates that the energy company will earn ($0.50) per share 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.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.20). The company had revenue of $516.59 million during the quarter, compared to analysts' expectations of $499.74 million. Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%.

A number of other equities analysts have also commented on the stock. Mizuho cut their price objective on shares of Sunrun from $28.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, April 19th. The Goldman Sachs Group boosted their price target on shares of Sunrun from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Royal Bank of Canada lowered their price objective on Sunrun from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Friday, March 15th. Piper Sandler reduced their target price on Sunrun from $31.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, February 22nd. Finally, Truist Financial reaffirmed a "hold" rating and issued a $14.00 price target (down previously from $15.00) on shares of Sunrun in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $21.26.

Sunrun Price Performance

RUN stock traded down $0.25 during mid-day trading on Wednesday, reaching $10.02. 9,971,665 shares of the company traded hands, compared to its average volume of 14,217,780. The company has a fifty day moving average price of $12.12 and a 200-day moving average price of $13.20. Sunrun has a 52-week low of $8.43 and a 52-week high of $23.85. The company has a market capitalization of $2.20 billion, a P/E ratio of -1.36 and a beta of 2.46. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.26 and a quick ratio of 0.96.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Sunrun by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company's stock valued at $384,394,000 after buying an additional 176,861 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Sunrun by 35.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,182,106 shares of the energy company's stock valued at $178,127,000 after acquiring an additional 3,748,696 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Sunrun by 3.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 10,593,210 shares of the energy company's stock worth $133,051,000 after purchasing an additional 324,272 shares during the last quarter. Greenvale Capital LLP boosted its stake in Sunrun by 15.3% in the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company's stock worth $162,929,000 after purchasing an additional 1,100,000 shares in the last quarter. Finally, Invesco Ltd. grew its position in Sunrun by 6.2% during the 3rd quarter. Invesco Ltd. now owns 7,137,991 shares of the energy company's stock valued at $89,653,000 after purchasing an additional 416,747 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 2,836 shares of the business's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.01, for a total transaction of $28,388.36. Following the transaction, the director now directly owns 1,399,810 shares of the company's stock, valued at approximately $14,012,098.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Sunrun news, Director Lynn Michelle Jurich sold 2,836 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.01, for a total transaction of $28,388.36. Following the transaction, the director now owns 1,399,810 shares in the company, valued at approximately $14,012,098.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward Harris Fenster sold 172,920 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the completion of the transaction, the director now directly owns 1,261,317 shares of the company's stock, valued at approximately $15,072,738.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 301,760 shares of company stock worth $3,615,990. 3.76% of the stock is currently owned by insiders.

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.