Brokers Issue Forecasts for Sunrun Inc.’s FY2024 Earnings (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) – Equities researchers at KeyCorp issued their FY2024 earnings per share estimates for shares of Sunrun in a report released 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 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 issued its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $516.59 million during the quarter, compared to analysts’ expectations of $499.74 million.

Other equities research analysts also recently issued reports about the company. Truist Financial restated a “hold” rating and set a $14.00 price target (down from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Mizuho cut their price target on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Susquehanna reiterated a “positive” rating and set a $25.00 price objective on shares of Sunrun in a research note on Friday, April 5th. Oppenheimer restated an “outperform” rating and issued a $19.00 price target on shares of Sunrun in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada decreased 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.26.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $10.02 on Thursday. Sunrun has a fifty-two week low of $8.43 and a fifty-two week high of $23.85. The business has a 50-day simple moving average of $12.12 and a two-hundred day simple moving average of $13.20. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -1.36 and a beta of 2.46.

Hedge Funds Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in RUN. C M Bidwell & Associates Ltd. boosted its position in 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 valued at $30,000 after purchasing an additional 2,211 shares in the last quarter. Fifth Third Bancorp boosted its position in Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after purchasing an additional 764 shares in the last quarter. Versant Capital Management Inc boosted its position in Sunrun by 149.7% during the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after purchasing an additional 1,127 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in Sunrun by 69.8% during the third quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after purchasing an additional 1,375 shares in the last quarter. Finally, USCF Advisers LLC boosted its position in Sunrun by 130.0% during the fourth quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling at Sunrun

In other Sunrun news, CEO Mary Powell sold 5,424 shares of the company’s stock in a transaction 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Alan Ferber purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $9.73 per share, with a total value of $97,300.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $97,300. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mary Powell sold 5,424 shares of the stock in a transaction 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 in the company, valued at approximately $4,988,931.36. 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 quarter. 3.76% of the stock is 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.