KeyCorp Weighs in on Sunrun Inc.’s Q1 2024 Earnings (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) – Equities research analysts at KeyCorp issued their Q1 2024 EPS estimates for Sunrun in a research report issued on Monday, April 22nd. KeyCorp analyst S. Karp expects that the energy company will earn ($0.50) per share for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Sunrun’s current full-year earnings is ($1.74) per share. KeyCorp also issued estimates for Sunrun’s Q2 2024 earnings at ($0.26) EPS, Q3 2024 earnings at $0.29 EPS and Q4 2024 earnings at ($0.72) EPS.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The company had revenue of $516.59 million for the quarter, compared to analyst estimates of $499.74 million.

RUN has been the topic of several other reports. Truist Financial restated a “hold” rating and issued a $14.00 price objective (down from $15.00) on shares of Sunrun in a report on Monday, February 26th. Royal Bank of Canada cut their price objective on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Piper Sandler cut their price objective on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Janney Montgomery Scott lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Finally, Mizuho lowered their target price on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.26.

Sunrun Trading Up 2.2 %

Shares of NASDAQ RUN opened at $10.27 on Wednesday. The company’s 50 day simple moving average is $12.12 and its 200 day simple moving average is $13.20. Sunrun has a fifty-two week low of $8.43 and a fifty-two week high of $23.85. The firm has a market capitalization of $2.26 billion, a P/E ratio of -1.39 and a beta of 2.46. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.26 and a quick ratio of 0.96.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 2,836 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.01, for a total transaction of $28,388.36. Following the completion of the sale, the director now owns 1,399,810 shares of the company’s stock, valued at $14,012,098.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sunrun news, Director Alan Ferber bought 10,000 shares of Sunrun stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $97,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 2,836 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.01, for a total transaction of $28,388.36. Following the transaction, the director now owns 1,399,810 shares of the company’s stock, valued at approximately $14,012,098.10. The disclosure for this sale can be found here. Insiders sold 301,760 shares of company stock valued at $3,615,990 over the last quarter. Corporate insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

Large investors have recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. lifted its stake in Sunrun by 1,483.9% in the third quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock valued at $30,000 after acquiring an additional 2,211 shares during the last quarter. Fifth Third Bancorp lifted its stake in Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after acquiring an additional 764 shares during the last quarter. Versant Capital Management Inc lifted its stake in Sunrun by 149.7% in the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after acquiring an additional 1,127 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Sunrun by 69.8% in the third quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after acquiring an additional 1,375 shares during the last quarter. Finally, USCF Advisers LLC lifted its stake in Sunrun by 130.0% in the fourth quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.