Sunrun Inc (NASDAQ:RUN) Expected to Announce Quarterly Sales of $188.55 Million

Equities research analysts predict that Sunrun Inc (NASDAQ:RUN) will post sales of $188.55 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Sunrun’s earnings, with estimates ranging from $186.40 million to $190.70 million. Sunrun posted sales of $170.54 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 8th.

On average, analysts expect that Sunrun will report full year sales of $753.10 million for the current year, with estimates ranging from $639.39 million to $855.20 million. For the next year, analysts anticipate that the business will post sales of $828.70 million, with estimates ranging from $738.60 million to $882.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sunrun.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, May 8th. The energy company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.43). The business had revenue of $194.50 million for the quarter, compared to analyst estimates of $152.90 million. Sunrun had a negative return on equity of 1.19% and a negative net margin of 1.88%.

Several research firms have recently commented on RUN. Roth Capital set a $24.00 price target on Sunrun and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Credit Suisse Group set a $24.00 price target on Sunrun and gave the stock a “buy” rating in a research report on Friday, March 1st. BidaskClub lowered Sunrun from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Wednesday, March 6th. Finally, Bank of America reiterated a “buy” rating and issued a $23.50 target price (up from $17.50) on shares of Sunrun in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Sunrun currently has a consensus rating of “Buy” and a consensus target price of $20.69.

Shares of Sunrun stock opened at $18.76 on Friday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 81.57, a price-to-earnings-growth ratio of 3.92 and a beta of 0.51. Sunrun has a fifty-two week low of $8.81 and a fifty-two week high of $19.28. The company has a quick ratio of 1.15, a current ratio of 1.37 and a debt-to-equity ratio of 1.64. The stock has a 50 day simple moving average of $16.46.

In related news, Chairman Edward Harris Fenster sold 3,510 shares of Sunrun stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $17.01, for a total transaction of $59,705.10. Following the completion of the transaction, the chairman now directly owns 2,460,681 shares in the company, valued at approximately $41,856,183.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tiger Global Management Llc acquired 146,708 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average price of $15.78 per share, with a total value of $2,315,052.24. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 2,665,881 shares of company stock worth $48,755,482 and sold 117,129 shares worth $2,086,424. Insiders own 9.34% of the company’s stock.

Several institutional investors have recently modified their holdings of RUN. Rehmann Capital Advisory Group raised its position in shares of Sunrun by 363.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,789 shares of the energy company’s stock worth $41,000 after purchasing an additional 2,972 shares during the last quarter. Bank of Montreal Can raised its holdings in Sunrun by 1,008.2% in the 4th quarter. Bank of Montreal Can now owns 7,403 shares of the energy company’s stock valued at $81,000 after acquiring an additional 6,735 shares during the last quarter. NumerixS Investment Technologies Inc raised its holdings in Sunrun by 54.7% in the 4th quarter. NumerixS Investment Technologies Inc now owns 9,900 shares of the energy company’s stock valued at $105,000 after acquiring an additional 3,500 shares during the last quarter. LPL Financial LLC acquired a new position in Sunrun in the 4th quarter valued at $121,000. Finally, Paloma Partners Management Co acquired a new position in Sunrun in the 4th quarter valued at $134,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Sunrun Company Profile

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, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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