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Sunrun (RUN) Outpaces Stock Market Gains: What You Should Know
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Sunrun (RUN - Free Report) closed at $17.86 in the latest trading session, marking a +1.65% move from the prior day. This move outpaced the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq lost 2.24%.
Prior to today's trading, shares of the solar energy products distributor had lost 4.92% over the past month. This has lagged the Oils-Energy sector's gain of 3.61% and the S&P 500's gain of 4.67% 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 August 2, 2023. In that report, analysts expect Sunrun to post earnings of -$0.34 per share. This would mark a year-over-year decline of 466.67%. Meanwhile, our latest consensus estimate is calling for revenue of $623.31 million, up 6.63% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.80 per share and revenue of $2.44 billion. These totals would mark changes of -325% and +5.28%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Sunrun. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Sunrun is holding a Zacks Rank of #3 (Hold) right now.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Sunrun (RUN) Outpaces Stock Market Gains: What You Should Know
Sunrun (RUN - Free Report) closed at $17.86 in the latest trading session, marking a +1.65% move from the prior day. This move outpaced the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq lost 2.24%.
Prior to today's trading, shares of the solar energy products distributor had lost 4.92% over the past month. This has lagged the Oils-Energy sector's gain of 3.61% and the S&P 500's gain of 4.67% 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 August 2, 2023. In that report, analysts expect Sunrun to post earnings of -$0.34 per share. This would mark a year-over-year decline of 466.67%. Meanwhile, our latest consensus estimate is calling for revenue of $623.31 million, up 6.63% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.80 per share and revenue of $2.44 billion. These totals would mark changes of -325% and +5.28%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Sunrun. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Sunrun is holding a Zacks Rank of #3 (Hold) right now.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.