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Sunrun (RUN) Gains As Market Dips: What You Should Know
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In the latest trading session, Sunrun (RUN - Free Report) closed at $16.80, marking a +1.76% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.29%. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq gained 1.24%.
Prior to today's trading, shares of the solar energy products distributor had lost 14.06% over the past month. This has lagged the Oils-Energy sector's loss of 1.5% and the S&P 500's gain of 3.1% in that time.
Investors will be hoping for strength from Sunrun as it approaches its next earnings release, which is expected to be August 2, 2023. On that day, Sunrun is projected to report earnings of -$0.34 per share, which would represent a year-over-year decline of 466.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $623.31 million, up 6.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.80 per share and revenue of $2.44 billion, which would represent changes of -325% and +5.28%, respectively, from the prior year.
Any recent changes to analyst estimates for Sunrun should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate 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 101, putting it in the top 41% 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.
To follow RUN in the coming trading sessions, be sure to utilize Zacks.com.
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Sunrun (RUN) Gains As Market Dips: What You Should Know
In the latest trading session, Sunrun (RUN - Free Report) closed at $16.80, marking a +1.76% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.29%. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq gained 1.24%.
Prior to today's trading, shares of the solar energy products distributor had lost 14.06% over the past month. This has lagged the Oils-Energy sector's loss of 1.5% and the S&P 500's gain of 3.1% in that time.
Investors will be hoping for strength from Sunrun as it approaches its next earnings release, which is expected to be August 2, 2023. On that day, Sunrun is projected to report earnings of -$0.34 per share, which would represent a year-over-year decline of 466.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $623.31 million, up 6.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.80 per share and revenue of $2.44 billion, which would represent changes of -325% and +5.28%, respectively, from the prior year.
Any recent changes to analyst estimates for Sunrun should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate 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 101, putting it in the top 41% 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.
To follow RUN in the coming trading sessions, be sure to utilize Zacks.com.