Sunrun Inc (NASDAQ:RUN) Expected to Earn Q3 2019 Earnings of $0.12 Per Share

Sunrun Inc (NASDAQ:RUN) – Oppenheimer boosted their Q3 2019 earnings per share estimates for Sunrun in a note issued to investors on Thursday, August 8th, Zacks Investment Research reports. Oppenheimer analyst C. Rusch now expects that the energy company will earn $0.12 per share for the quarter, up from their previous estimate of $0.10. Oppenheimer also issued estimates for Sunrun’s Q4 2019 earnings at $0.14 EPS, FY2019 earnings at $0.13 EPS and FY2020 earnings at $0.52 EPS.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, August 7th. The energy company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.18). Sunrun had a negative net margin of 2.84% and a negative return on equity of 1.89%. The firm had revenue of $204.60 million during the quarter, compared to analysts’ expectations of $198.78 million. During the same period in the prior year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis.

A number of other equities research analysts also recently commented on RUN. Goldman Sachs Group raised shares of Sunrun from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, June 17th. BidaskClub cut shares of Sunrun from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barclays began coverage on shares of Sunrun in a report on Thursday, May 16th. They issued an “overweight” rating and a $21.00 target price for the company. Bank of America restated a “buy” rating and issued a $23.50 target price (up previously from $17.50) on shares of Sunrun in a report on Thursday, April 25th. Finally, Zacks Investment Research upgraded shares of Sunrun from a “strong sell” rating to a “hold” rating in a report on Saturday, August 10th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $21.50.

Shares of NASDAQ:RUN opened at $14.69 on Friday. Sunrun has a 52 week low of $8.81 and a 52 week high of $21.42. The company’s 50 day moving average is $18.97 and its two-hundred day moving average is $16.47. The company has a current ratio of 0.83, a quick ratio of 1.15 and a debt-to-equity ratio of 1.68. The company has a market cap of $1.90 billion, a PE ratio of 63.87, a P/E/G ratio of 6.46 and a beta of 0.66.

Several institutional investors and hedge funds have recently made changes to their positions in RUN. Norges Bank purchased a new position in Sunrun during the 4th quarter valued at about $16,863,000. JPMorgan Chase & Co. increased its holdings in Sunrun by 132.2% during the 1st quarter. JPMorgan Chase & Co. now owns 348,464 shares of the energy company’s stock valued at $4,899,000 after acquiring an additional 198,395 shares in the last quarter. Legal & General Group Plc increased its holdings in Sunrun by 7.7% during the 4th quarter. Legal & General Group Plc now owns 16,805 shares of the energy company’s stock valued at $183,000 after acquiring an additional 1,205 shares in the last quarter. Ashfield Capital Partners LLC purchased a new position in Sunrun during the 1st quarter valued at about $154,000. Finally, Rehmann Capital Advisory Group increased its holdings in Sunrun by 222.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 12,235 shares of the energy company’s stock valued at $172,000 after acquiring an additional 8,446 shares in the last quarter. Institutional investors and hedge funds own 82.07% of the company’s stock.

In other Sunrun news, major shareholder Tiger Global Management Llc purchased 103,292 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average price of $15.64 per share, for a total transaction of $1,615,486.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Christopher Dawson sold 8,190 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.04, for a total transaction of $164,127.60. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 3,294,486 shares of company stock valued at $58,600,273 and have sold 306,099 shares valued at $6,006,175. 9.34% of the stock is owned by corporate insiders.

About Sunrun

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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