Sunrun (RUN) Ascends While Market Falls: Some Facts to Note
The latest trading session saw Sunrun (RUN) ending at $10.25, denoting a +1.38% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq lost 2.05%.
Heading into today, shares of the solar energy products distributor had lost 14.03% over the past month, lagging the Oils-Energy sector's gain of 2.78% and the S&P 500's loss of 2.57% in that time.
The investment community will be paying close attention to the earnings performance of Sunrun in its upcoming release. The company is slated to reveal its earnings on May 8, 2024. The company is forecasted to report an EPS of -$0.49, showcasing a 56.25% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $466.78 million, down 20.86% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.74 per share and revenue of $2.27 billion, indicating changes of +75.63% and +0.42%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Sunrun. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 5.78% higher within the past month. Sunrun currently has a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 156, finds itself in the bottom 39% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Sunrun Inc. (RUN) : Free Stock Analysis Report
