KeyCorp Comments on Sunrun Inc.’s FY2024 Earnings (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) – KeyCorp issued their FY2024 earnings per share estimates for Sunrun in a report released on Monday, April 22nd. KeyCorp analyst S. Karp expects that the energy company will post earnings of ($1.18) per share for the year. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Sunrun’s current full-year earnings is ($1.69) per share. KeyCorp also issued estimates for Sunrun’s FY2025 earnings at ($0.79) EPS, FY2026 earnings at ($0.40) EPS and FY2027 earnings at $0.06 EPS.

Several other brokerages also recently weighed in on RUN. Piper Sandler cut their price target on Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Susquehanna reaffirmed a “positive” rating and set a $25.00 price objective on shares of Sunrun in a research report on Friday, April 5th. Oppenheimer reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Sunrun in a research report on Thursday, February 22nd. Royal Bank of Canada reduced their price target on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Finally, The Goldman Sachs Group lifted their price objective on Sunrun from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.26.

Sunrun Price Performance

RUN opened at $10.29 on Thursday. The stock’s 50-day moving average price is $11.84 and its 200 day moving average price is $13.15. Sunrun has a 12-month low of $8.43 and a 12-month high of $23.85. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 1.68. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -1.39 and a beta of 2.46.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RUN. C M Bidwell & Associates Ltd. raised its stake in Sunrun by 1,483.9% during the third quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock valued at $30,000 after buying an additional 2,211 shares in the last quarter. Fifth Third Bancorp increased its position in Sunrun by 76.9% in the 4th 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 period. Versant Capital Management Inc increased its position in Sunrun by 149.7% in the 4th 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 period. Hexagon Capital Partners LLC boosted its stake in Sunrun by 69.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after purchasing an additional 1,375 shares in the last quarter. Finally, USCF Advisers LLC boosted its stake in Sunrun by 130.0% during 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 in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Activity at Sunrun

In other news, Director Alan Ferber bought 10,000 shares of Sunrun stock in a transaction that occurred on Thursday, March 14th. The shares were purchased 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 $97,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sunrun news, insider Jeanna Steele sold 8,187 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.11, for a total transaction of $99,144.57. Following the transaction, the insider now owns 239,724 shares in the company, valued at $2,903,057.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alan Ferber purchased 10,000 shares of Sunrun stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $9.73 per share, with a total value of $97,300.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $97,300. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 301,760 shares of company stock worth $3,615,990. 3.76% of the stock is owned by insiders.

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.