Sunrun (RUN) closed the latest trading day at $5.94, indicating a -1.16% change from the previous session's end. This change was narrower than the S&P 500's 1.97% loss on the day. Meanwhile, the Dow lost 1.69%, and the Nasdaq, a tech-heavy index, lost 2.7%.
Shares of the solar energy products distributor witnessed a loss of 24.02% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.54% and the S&P 500's loss of 2.79%.
The investment community will be closely monitoring the performance of Sunrun in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.29, marking a 27.5% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $493.5 million, reflecting a 7.71% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.72 per share and a revenue of $2.26 billion, representing changes of -154.14% and +10.79%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Sunrun. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.49% higher. At present, Sunrun boasts a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Sunrun Inc. (RUN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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