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

Sunrun Inc. (NASDAQ:RUN - Free Report) - Investment analysts at KeyCorp issued their FY2024 EPS estimates for Sunrun in a research report issued on Monday, April 22nd. KeyCorp analyst S. Karp forecasts 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%.

Several other research firms also recently issued reports on RUN. The Goldman Sachs Group lifted their price target on Sunrun from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. Janney Montgomery Scott lowered shares of Sunrun from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 27th. Truist Financial restated a "hold" rating and set a $14.00 price objective (down from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Piper Sandler dropped their price target 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, Royal Bank of Canada cut their price target on Sunrun from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, March 15th. One equities research 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. Based on data from MarketBeat.com, Sunrun presently has a consensus rating of "Moderate Buy" and an average price target of $21.26.

Sunrun Price Performance

Shares of NASDAQ:RUN traded down $0.31 during trading on Thursday, hitting $9.71. 9,241,236 shares of the stock were exchanged, compared to its average volume of 14,156,077. Sunrun has a 12-month low of $8.43 and a 12-month high of $23.85. The company has a market cap of $2.13 billion, a PE ratio of -1.31 and a beta of 2.46. The company has a fifty day moving average price of $11.99 and a two-hundred day moving average price of $13.17. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 1.68.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUN. Vanguard Group Inc. raised its stake in shares of Sunrun by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company's stock worth $384,394,000 after purchasing an additional 176,861 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in Sunrun by 35.9% in the third 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Sunrun by 3.2% during 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 raised its holdings in shares of Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company's stock valued at $162,929,000 after purchasing an additional 1,100,000 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Sunrun by 6.2% in 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 currently owned by hedge funds and other institutional investors.

Insider Transactions at Sunrun

In other Sunrun news, CEO Mary Powell sold 5,424 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $65,738.88. Following the completion of the sale, the chief executive officer now owns 411,628 shares of the company's stock, valued at $4,988,931.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sunrun news, CEO Mary Powell sold 5,424 shares of the company'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 value of $65,738.88. Following the transaction, the chief executive officer now directly owns 411,628 shares of the company's stock, valued at approximately $4,988,931.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lynn Michelle Jurich sold 2,836 shares of Sunrun stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.01, for a total value of $28,388.36. Following the transaction, the director now directly owns 1,399,810 shares in the company, valued at $14,012,098.10. The disclosure for this sale can be found here. Insiders sold 301,760 shares of company stock valued at $3,615,990 over the last quarter. Company insiders own 3.76% of the company's stock.

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.