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

Sunrun Inc. (NASDAQ:RUN) – Research analysts at KeyCorp issued their Q1 2024 EPS estimates for shares of Sunrun in a note issued to investors on Monday, April 22nd. KeyCorp analyst S. Karp forecasts that the energy company will post earnings of ($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 released its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $516.59 million for the quarter, compared to analysts’ expectations of $499.74 million.

Other equities research analysts also recently issued research reports about the company. Oppenheimer reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Sunrun in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their price objective on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. BMO Capital Markets boosted their target price on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Piper Sandler lowered their price target on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Finally, Mizuho cut their price objective on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and an average price target of $21.26.

Sunrun Stock Down 3.1 %

Shares of Sunrun stock opened at $9.71 on Wednesday. The company has a fifty day moving average price of $11.99 and a 200 day moving average price of $13.17. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 1.68. Sunrun has a twelve month low of $8.43 and a twelve month high of $23.85. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -1.31 and a beta of 2.46.

Insiders Place Their Bets

In related news, insider Jeanna Steele sold 8,187 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.11, for a total transaction of $99,144.57. Following the completion of the sale, the insider now owns 239,724 shares of the company’s stock, valued at approximately $2,903,057.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jeanna Steele sold 8,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $12.11, for a total value of $99,144.57. Following the sale, the insider now owns 239,724 shares of the company’s stock, valued at approximately $2,903,057.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 4,830 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total value of $58,539.60. Following the transaction, the director now owns 1,403,915 shares of the company’s stock, valued at $17,015,449.80. The disclosure for this sale can be found here. Insiders sold a total of 301,760 shares of company stock valued at $3,615,990 over the last 90 days. 3.76% of the stock is owned by company insiders.

Institutional Trading of Sunrun

Several hedge funds have recently bought and sold shares of the company. Diversified Trust Co bought a new stake in shares of Sunrun during the fourth quarter valued at approximately $221,000. Zweig DiMenna Associates LLC raised its stake in Sunrun by 64.8% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 206,913 shares of the energy company’s stock valued at $2,599,000 after acquiring an additional 81,363 shares in the last quarter. Vanguard Group Inc. boosted its position in Sunrun by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company’s stock worth $243,728,000 after acquiring an additional 126,321 shares during the period. Deutsche Bank AG grew its stake in shares of Sunrun by 112.9% in the third quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock worth $27,969,000 after purchasing an additional 1,180,823 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Sunrun by 87.8% during the third quarter. Jump Financial LLC now owns 97,123 shares of the energy company’s stock valued at $1,220,000 after purchasing an additional 45,412 shares during the period. 91.69% of the stock is currently owned by institutional investors.

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.