Oppenheimer Research Analysts Decrease Earnings Estimates for Sunrun Inc. (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN – Get Rating) – Investment analysts at Oppenheimer dropped their Q3 2022 earnings per share estimates for shares of Sunrun in a research note issued to investors on Thursday, August 4th. Oppenheimer analyst C. Rusch now forecasts that the energy company will post earnings of $0.15 per share for the quarter, down from their previous forecast of $0.16. The consensus estimate for Sunrun’s current full-year earnings is ($1.11) per share.

Sunrun (NASDAQ:RUN – Get Rating) last announced its earnings results on Wednesday, May 4th. The energy company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.35). Sunrun had a negative net margin of 5.86% and a negative return on equity of 1.40%. The firm had revenue of $495.78 million during the quarter, compared to analyst estimates of $401.60 million. During the same period in the previous year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was up 48.1% compared to the same quarter last year.

Other research analysts also recently issued research reports about the stock. Morgan Stanley cut their target price on shares of Sunrun from $89.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, June 13th. Barclays started coverage on shares of Sunrun in a research note on Friday. They issued an “overweight” rating and a $46.00 target price for the company. BMO Capital Markets boosted their target price on shares of Sunrun from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on Sunrun from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. Finally, Piper Sandler lifted their price target on Sunrun from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Sunrun Trading Up 4.5 %

Shares of RUN stock opened at $33.24 on Friday. The firm has a 50-day moving average price of $25.70 and a 200 day moving average price of $25.54. Sunrun has a twelve month low of $16.80 and a twelve month high of $60.60. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of -59.36 and a beta of 2.29. The company has a current ratio of 1.60, a quick ratio of 1.08 and a debt-to-equity ratio of 1.03.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently modified their holdings of the stock. CWM LLC raised its stake in shares of Sunrun by 512.3% during the 1st quarter. CWM LLC now owns 845 shares of the energy company’s stock worth $26,000 after purchasing an additional 707 shares in the last quarter. Clearstead Advisors LLC increased its holdings in Sunrun by 743.6% in the 1st quarter. Clearstead Advisors LLC now owns 928 shares of the energy company’s stock valued at $28,000 after buying an additional 818 shares during the period. Fifth Third Bancorp raised its stake in shares of Sunrun by 120.6% in the 1st quarter. Fifth Third Bancorp now owns 1,006 shares of the energy company’s stock valued at $31,000 after buying an additional 550 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Sunrun during the 1st quarter worth about $32,000. Finally, Verity Asset Management Inc. bought a new stake in Sunrun in the first quarter valued at about $35,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sunrun news, insider Lynn Michelle Jurich sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $25.33, for a total value of $1,899,750.00. Following the transaction, the insider now directly owns 1,459,226 shares of the company’s stock, valued at approximately $36,962,194.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Sunrun news, insider Lynn Michelle Jurich sold 75,000 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $25.33, for a total value of $1,899,750.00. Following the sale, the insider now directly owns 1,459,226 shares of the company’s stock, valued at $36,962,194.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward Harris Fenster sold 25,000 shares of the stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $25.00, for a total value of $625,000.00. Following the completion of the transaction, the insider now directly owns 1,585,134 shares of the company’s stock, valued at approximately $39,628,350. The disclosure for this sale can be found here. Insiders sold a total of 253,973 shares of company stock worth $6,546,339 in the last 90 days. 4.29% of the stock is owned by company insiders.

Sunrun Company Profile

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Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.

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