Sunrun Inc. (NASDAQ:RUN – Free Report) – Analysts at KeyCorp lifted their Q3 2023 earnings per share estimates for shares of Sunrun in a research report issued on Wednesday, August 16th. KeyCorp analyst S. Karp now anticipates that the energy company will post earnings per share of $0.08 for the quarter, up from their previous forecast of ($0.35). KeyCorp has a “Overweight” rating and a $24.00 price target on the stock. The consensus estimate for Sunrun’s current full-year earnings is ($1.10) per share. KeyCorp also issued estimates for Sunrun’s Q4 2023 earnings at $0.05 EPS, FY2023 earnings at ($0.70) EPS, FY2024 earnings at $0.17 EPS and FY2025 earnings at $1.39 EPS.
Sunrun (NASDAQ:RUN – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.25 EPS for the quarter, topping the consensus estimate of ($0.34) by $0.59. Sunrun had a net margin of 3.66% and a return on equity of 1.18%. The firm had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $627.73 million. During the same period in the previous year, the business earned ($0.06) earnings per share. Sunrun’s revenue for the quarter was up 1.0% compared to the same quarter last year.
A number of other research firms also recently weighed in on RUN. Truist Financial decreased their target price on Sunrun from $35.00 to $30.00 in a research report on Monday, May 8th. StockNews.com upgraded Sunrun to a “sell” rating in a research report on Tuesday, April 25th. Janney Montgomery Scott upgraded shares of Sunrun from a “neutral” rating to a “buy” rating in a research report on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Sunrun from $27.00 to $26.00 in a research report on Friday, May 5th. Finally, Susquehanna decreased their price target on shares of Sunrun from $42.00 to $40.00 in a research note on Thursday, May 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.85.
Sunrun Stock Performance
Shares of RUN opened at $14.21 on Monday. The company has a market capitalization of $3.09 billion, a PE ratio of 37.40 and a beta of 2.28. The company’s 50 day moving average price is $18.53 and its 200 day moving average price is $19.65. Sunrun has a 52 week low of $14.17 and a 52 week high of $39.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.91 and a current ratio of 1.47.
Insider Activity at Sunrun
In other Sunrun news, CEO Mary Powell sold 1,969 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $17.56, for a total transaction of $34,575.64. Following the completion of the sale, the chief executive officer now directly owns 415,759 shares in the company, valued at approximately $7,300,728.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Danny Abajian sold 7,824 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $18.74, for a total transaction of $146,621.76. Following the completion of the transaction, the chief financial officer now directly owns 226,907 shares in the company, valued at approximately $4,252,237.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mary Powell sold 1,969 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $17.56, for a total transaction of $34,575.64. Following the sale, the chief executive officer now owns 415,759 shares in the company, valued at $7,300,728.04. The disclosure for this sale can be found here. Insiders have sold 104,499 shares of company stock worth $2,048,105 over the last 90 days. 3.76% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in shares of Sunrun by 24.2% during the 1st quarter. American Century Companies Inc. now owns 13,754 shares of the energy company’s stock worth $417,000 after acquiring an additional 2,679 shares during the last quarter. US Bancorp DE grew its holdings in Sunrun by 123.5% during the 1st quarter. US Bancorp DE now owns 6,534 shares of the energy company’s stock worth $198,000 after acquiring an additional 3,611 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Sunrun by 37.1% in the 1st quarter. Private Advisor Group LLC now owns 19,786 shares of the energy company’s stock valued at $601,000 after purchasing an additional 5,349 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Sunrun by 58.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,836 shares of the energy company’s stock valued at $329,000 after acquiring an additional 4,010 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Sunrun by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,865 shares of the energy company’s stock worth $2,304,000 after purchasing an additional 7,233 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.
About Sunrun
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.