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Sunrun (RUN) Stock Sinks As Market Gains: What You Should Know
Sunrun (RUN - Free Report) closed at $17.03 in the latest trading session, marking a -1.67% move from the prior day. This change lagged the S&P 500's 0.89% gain on the day. Elsewhere, the Dow gained 1.2%, while the tech-heavy Nasdaq lost 0.68%.
Heading into today, shares of the solar energy products distributor had lost 31.3% over the past month, lagging the Oils-Energy sector's loss of 9.72% and the S&P 500's loss of 3.9% in that time.
Wall Street will be looking for positivity from Sunrun as it approaches its next earnings report date. On that day, Sunrun is projected to report earnings of -$0.04 per share, which would represent year-over-year growth of 90.48%. Our most recent consensus estimate is calling for quarterly revenue of $524.96 million, up 5.89% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.18 per share and revenue of $2.34 billion, which would represent changes of -122.5% and +0.62%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Sunrun. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 59.41% higher within the past month. Sunrun is currently sporting a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.