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Why Sunrun (RUN) Dipped More Than Broader Market Today
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In the latest trading session, Sunrun (RUN - Free Report) closed at $7.78, marking a -6.83% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq gained 0.01%.
The stock of solar energy products distributor has fallen by 8.54% in the past month, lagging the Oils-Energy sector's loss of 0.34% and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of Sunrun in its upcoming release. The company's upcoming EPS is projected at $0.16, signifying a 166.67% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $773.4 million, indicating a 6.74% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.19 per share and revenue of $3.12 billion. These totals would mark changes of -30.41% and +5.49%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sunrun. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. The Zacks Consensus EPS estimate has moved 0.33% higher within the past month. Sunrun is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Sunrun is holding a Forward P/E ratio of 7.03. This valuation marks a discount compared to its industry average Forward P/E of 13.96.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 233, placing it within the bottom 6% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Why Sunrun (RUN) Dipped More Than Broader Market Today
In the latest trading session, Sunrun (RUN - Free Report) closed at $7.78, marking a -6.83% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq gained 0.01%.
The stock of solar energy products distributor has fallen by 8.54% in the past month, lagging the Oils-Energy sector's loss of 0.34% and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of Sunrun in its upcoming release. The company's upcoming EPS is projected at $0.16, signifying a 166.67% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $773.4 million, indicating a 6.74% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.19 per share and revenue of $3.12 billion. These totals would mark changes of -30.41% and +5.49%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sunrun. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. The Zacks Consensus EPS estimate has moved 0.33% higher within the past month. Sunrun is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Sunrun is holding a Forward P/E ratio of 7.03. This valuation marks a discount compared to its industry average Forward P/E of 13.96.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 233, placing it within the bottom 6% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.