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Why Sunrun (RUN) Outpaced the Stock Market Today

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Sunrun (RUN - Free Report) closed the most recent trading day at $16.65, moving +1.59% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow experienced a rise of 1.03%, and the technology-dominated Nasdaq saw an increase of 0.6%.

The solar energy products distributor's stock has dropped by 4.71% in the past month, falling short of the Oils-Energy sector's loss of 3.93% and the S&P 500's gain of 6.41%.

Market participants will be closely following the financial results of Sunrun in its upcoming release. The company plans to announce its earnings on November 7, 2024. In that report, analysts expect Sunrun to post earnings of -$0.13 per share. This would mark a year-over-year decline of 132.5%. At the same time, our most recent consensus estimate is projecting a revenue of $561.33 million, reflecting a 0.33% fall from the equivalent quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.17 per share and revenue of $2.14 billion, indicating changes of +97.62% and -5.41%, respectively, compared to the previous year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sunrun. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.68% downward. Sunrun is holding a Zacks Rank of #3 (Hold) right now.

The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 105, positioning it in the top 42% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.


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