Sunrun (RUN) closed the most recent trading day at $19.46, moving +1.09% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.38%. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq lost 0.67%.
The solar energy products distributor's stock has climbed by 13.77% in the past month, exceeding the Oils-Energy sector's gain of 3.6% and the S&P 500's gain of 4.06%.
The upcoming earnings release of Sunrun will be of great interest to investors. On that day, Sunrun is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 110.81%. 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 full year, the Zacks Consensus Estimates project earnings of $0.73 per share and a revenue of $2.27 billion, demonstrating changes of -45.11% and +11.2%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Sunrun. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 2.86% higher. Sunrun is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Sunrun is presently being traded at a Forward P/E ratio of 26.36. This indicates a premium in contrast to its industry's Forward P/E of 17.27.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 46, finds itself in the top 19% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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