Brokers Offer Predictions for Sunrun Inc.’s Q3 2024 Earnings (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) – Analysts at Roth Capital dropped their Q3 2024 earnings per share (EPS) estimates for Sunrun in a research note issued to investors on Tuesday, August 6th. Roth Capital analyst P. Shen now forecasts that the energy company will post earnings per share of ($0.18) for the quarter, down from their prior estimate of ($0.16). The consensus estimate for Sunrun’s current full-year earnings is ($1.26) per share. Roth Capital also issued estimates for Sunrun’s FY2024 earnings at ($0.16) EPS, Q1 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.13) EPS, FY2025 earnings at ($0.44) EPS, Q1 2026 earnings at ($0.09) EPS and Q2 2026 earnings at ($0.05) EPS.

Other analysts have also issued reports about the company. Evercore ISI lowered their price objective on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday. Truist Financial reiterated a “hold” rating and issued a $18.00 price objective (up from $12.00) on shares of Sunrun in a research report on Wednesday. BMO Capital Markets raised their target price on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday. Piper Sandler raised their target price on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, StockNews.com upgraded Sunrun to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.69.

Sunrun Stock Performance

Shares of NASDAQ:RUN opened at $17.89 on Friday. The business has a fifty day moving average of $14.90 and a 200-day moving average of $13.34. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31. The firm has a market cap of $3.97 billion, a PE ratio of -2.68 and a beta of 2.61. Sunrun has a twelve month low of $8.43 and a twelve month high of $20.68.

Sunrun (NASDAQ:RUN) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.43% and a negative net margin of 66.36%. The company had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. During the same period last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year.

Insider Activity at Sunrun

In related news, CEO Mary Powell sold 1,741 shares of Sunrun stock in a transaction that occurred 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 approximately $8,766,315.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sunrun news, insider Jeanna Steele sold 24,161 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $19.24, for a total transaction of $464,857.64. Following the transaction, the insider now owns 310,617 shares of the company’s stock, valued at approximately $5,976,271.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mary Powell sold 1,741 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 589,927 shares in the company, valued at approximately $8,766,315.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,873 shares of company stock valued at $4,171,119. 3.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp increased its holdings in shares of Sunrun by 76.9% during the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after acquiring an additional 764 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of Sunrun during the 2nd quarter worth approximately $36,000. BNP Paribas bought a new stake in Sunrun in the 1st quarter valued at $37,000. CWM LLC boosted its stake in Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the period. Finally, USCF Advisers LLC boosted its stake in Sunrun by 130.0% in the 4th quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after purchasing an additional 1,300 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

About Sunrun

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.