Sunrun (RUN) ended the recent trading session at $17.29, demonstrating a -2.76% change from the preceding day's closing price. This change lagged the S&P 500's 0.41% gain on the day. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.31%.
Prior to today's trading, shares of the solar energy products distributor had gained 11.33% outpaced the Oils-Energy sector's gain of 0.91% and the S&P 500's gain of 3.15%.
The investment community will be closely monitoring the performance of Sunrun in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.03, reflecting a 108.11% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $606.24 million, indicating a 12.86% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.71 per share and a revenue of $2.27 billion, signifying shifts of -46.62% and +11.2%, respectively, from the last 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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Sunrun is carrying a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Sunrun is currently exchanging hands at a Forward P/E ratio of 25.05. This valuation marks a premium compared to its industry average Forward P/E of 17.09.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 47, this industry ranks in the top 20% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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