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Sunrun (RUN) Stock Sinks As Market Gains: What You Should Know
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Sunrun (RUN - Free Report) closed at $21.04 in the latest trading session, marking a -1.45% move from the prior day. This change lagged the S&P 500's daily gain of 0.83%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 4.46%.
Prior to today's trading, shares of the solar energy products distributor had gained 13.26% over the past month. This has outpaced the Oils-Energy sector's gain of 4.64% and the S&P 500's gain of 4.04% in that time.
Wall Street will be looking for positivity from Sunrun as it approaches its next earnings report date. This is expected to be May 3, 2023. On that day, Sunrun is projected to report earnings of -$0.09 per share, which would represent year-over-year growth of 78.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $521.83 million, up 5.25% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.28 per share and revenue of $2.34 billion. These totals would mark changes of -135% and +0.95%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Sunrun. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 58.29% lower. 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 90, which puts it in the top 36% of all 250+ industries.
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 (RUN) Stock Sinks As Market Gains: What You Should Know
Sunrun (RUN - Free Report) closed at $21.04 in the latest trading session, marking a -1.45% move from the prior day. This change lagged the S&P 500's daily gain of 0.83%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 4.46%.
Prior to today's trading, shares of the solar energy products distributor had gained 13.26% over the past month. This has outpaced the Oils-Energy sector's gain of 4.64% and the S&P 500's gain of 4.04% in that time.
Wall Street will be looking for positivity from Sunrun as it approaches its next earnings report date. This is expected to be May 3, 2023. On that day, Sunrun is projected to report earnings of -$0.09 per share, which would represent year-over-year growth of 78.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $521.83 million, up 5.25% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.28 per share and revenue of $2.34 billion. These totals would mark changes of -135% and +0.95%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Sunrun. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 58.29% lower. 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 90, which puts it in the top 36% of all 250+ industries.
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.