KeyCorp Weighs in on Sunrun Inc.’s Q1 2024 Earnings (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) – Equities researchers at KeyCorp issued their Q1 2024 earnings per share (EPS) estimates for shares of Sunrun in a report issued on Monday, April 22nd. KeyCorp analyst S. Karp anticipates that the energy company will post earnings of ($0.50) per share for the quarter. 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 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) last announced its 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 for the quarter, compared to the consensus estimate of $499.74 million. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%.

Several other brokerages have also issued reports on RUN. The Goldman Sachs Group boosted their price target on Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Truist Financial reaffirmed a “hold” rating and issued a $14.00 target price (down from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Royal Bank of Canada lowered their price target on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Piper Sandler reduced their price objective on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Finally, BMO Capital Markets increased their price target on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Sunrun has an average rating of “Moderate Buy” and an average target price of $21.26.

Sunrun Stock Down 3.1 %

Shares of RUN opened at $9.71 on Wednesday. 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 company has a 50-day simple moving average of $11.99 and a 200-day simple moving average of $13.17. Sunrun has a 52 week low of $8.43 and a 52 week high of $23.85. The firm has a market capitalization of $2.13 billion, a P/E ratio of -1.31 and a beta of 2.46.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently made changes to their positions in the stock. Diversified Trust Co bought a new position in Sunrun during the fourth quarter worth about $221,000. Zweig DiMenna Associates LLC raised its position in shares of Sunrun by 64.8% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 206,913 shares of the energy company’s stock valued at $2,599,000 after acquiring an additional 81,363 shares during the period. Vanguard Group Inc. boosted its stake in Sunrun by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company’s stock worth $243,728,000 after acquiring an additional 126,321 shares during the last quarter. Deutsche Bank AG grew its holdings in Sunrun by 112.9% during the third quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock valued at $27,969,000 after purchasing an additional 1,180,823 shares during the period. Finally, Jump Financial LLC increased its stake in Sunrun by 87.8% in the third quarter. Jump Financial LLC now owns 97,123 shares of the energy company’s stock valued at $1,220,000 after purchasing an additional 45,412 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sunrun

In related news, Director Edward Harris Fenster sold 172,920 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $11.95, for a total value of $2,066,394.00. Following the completion of the sale, the director now owns 1,261,317 shares of the company’s stock, valued at $15,072,738.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related 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 transaction, the chief executive officer now directly owns 411,628 shares in the company, valued at $4,988,931.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the sale, 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 90 days, insiders sold 301,760 shares of company stock worth $3,615,990. 3.76% of the stock is currently owned by corporate insiders.

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.