Sunrun (NASDAQ:RUN) Announces Quarterly Earnings Results, Beats Expectations By $0.88 EPS

Sunrun (NASDAQ:RUN) released its quarterly earnings results on Tuesday. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88, Briefing.com reports. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The company had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Sunrun’s revenue was down 11.2% on a year-over-year basis.

Sunrun Stock Up 11.0 %

Shares of RUN stock traded up $1.82 during mid-day trading on Wednesday, hitting $18.31. The stock had a trading volume of 26,016,691 shares, compared to its average volume of 13,551,201. Sunrun has a 12-month low of $8.43 and a 12-month high of $20.68. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.31 and a quick ratio of 0.99. The firm’s 50-day moving average is $14.74 and its two-hundred day moving average is $13.28. The firm has a market capitalization of $4.06 billion, a P/E ratio of -2.75 and a beta of 2.61.

Insider Activity

In other Sunrun news, Director Edward Harris Fenster sold 9,248 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $15.00, for a total transaction of $138,720.00. Following the transaction, the director now directly owns 1,252,069 shares in the company, valued at approximately $18,781,035. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Edward Harris Fenster sold 9,248 shares of Sunrun stock in a transaction on Friday, May 31st. The stock was sold at an average price of $15.00, for a total value of $138,720.00. Following the transaction, the director now directly owns 1,252,069 shares in the company, valued at approximately $18,781,035. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mary Powell sold 1,741 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $14.86, for a total value of $25,871.26. Following the sale, the chief executive officer now owns 589,927 shares of the company’s stock, valued at $8,766,315.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,712 shares of company stock worth $3,706,261. Company insiders own 3.76% of the company’s stock.

Analyst Ratings Changes

RUN has been the topic of several recent research reports. UBS Group upped their target price on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial reaffirmed a “hold” rating and issued a $18.00 price objective (up from $12.00) on shares of Sunrun in a research note on Wednesday. Mizuho cut their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Evercore ISI lowered their price target on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.67.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.