Analysts Set Expectations for Sunrun Inc.’s FY2024 Earnings (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) – Investment analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for shares of Sunrun in a research report issued to clients and investors on Monday, April 22nd. KeyCorp analyst S. Karp expects that the energy company will earn ($1.18) per share for the year. 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 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 quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.20). The business had revenue of $516.59 million during the quarter, compared to the consensus estimate 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 research analysts have also issued reports on RUN. Piper Sandler cut their price target on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. BMO Capital Markets increased their price objective 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. The Goldman Sachs Group increased their price target on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Truist Financial reissued a “hold” rating and issued a $14.00 price objective (down previously from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Finally, Royal Bank of Canada decreased their price objective on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and a consensus price target of $21.26.

Sunrun Price Performance

NASDAQ RUN opened at $9.71 on Thursday. 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 $2.13 billion, a price-to-earnings ratio of -1.31 and a beta of 2.46. Sunrun has a 1-year low of $8.43 and a 1-year high of $23.85. The business’s fifty day moving average price is $11.99 and its 200-day moving average price is $13.17.

Insiders Place Their Bets

In other news, Director Lynn Michelle Jurich sold 4,830 shares of Sunrun stock in a transaction that occurred on 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 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 SEC, which can be accessed through this link. In related news, Director Lynn Michelle Jurich sold 4,830 shares of Sunrun 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 $58,539.60. Following the completion of the sale, the director now owns 1,403,915 shares in the company, valued at approximately $17,015,449.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeanna Steele sold 8,187 shares of Sunrun stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $12.11, for a total transaction of $99,144.57. Following the completion of the sale, the insider now owns 239,724 shares of the company’s stock, valued at approximately $2,903,057.64. The disclosure for this sale can be found here. Insiders have sold 301,760 shares of company stock valued at $3,615,990 in the last ninety days. 3.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently modified their holdings of the business. Fifth Third Bancorp lifted its position in Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after acquiring an additional 764 shares during the last quarter. Retirement Systems of Alabama raised its stake in Sunrun by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock worth $5,340,000 after purchasing an additional 833 shares during the period. Treasurer of the State of North Carolina raised its stake in Sunrun by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock worth $1,837,000 after purchasing an additional 910 shares during the period. Manchester Capital Management LLC raised its stake in shares of Sunrun by 41.9% in the 4th quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock valued at $62,000 after acquiring an additional 938 shares during the period. Finally, Spire Wealth Management raised its stake in shares of Sunrun by 18.7% in the 1st quarter. Spire Wealth Management now owns 6,405 shares of the energy company’s stock valued at $84,000 after acquiring an additional 1,010 shares during the period. Institutional investors and hedge funds own 91.69% 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.