Sunrun (NASDAQ:RUN) Announces Earnings Results, Beats Expectations By $0.88 EPS

Sunrun (NASDAQ:RUN) announced its earnings results on Tuesday. The energy company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.88, Briefing.com reports. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The business had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. During the same period last year, the company earned $0.25 EPS. Sunrun’s revenue for the quarter was down 11.2% compared to the same quarter last year.

Sunrun Trading Up 2.8 %

Shares of Sunrun stock traded up $0.52 during midday trading on Thursday, reaching $18.83. 13,606,396 shares of the company’s stock traded hands, compared to its average volume of 13,551,671. The stock has a 50 day moving average of $14.74 and a 200-day moving average of $13.28. Sunrun has a 12 month low of $8.43 and a 12 month high of $20.68. The company has a market cap of $4.17 billion, a PE ratio of -2.89 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BMO Capital Markets upped their price target on shares of Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday. Mizuho decreased their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. increased their price target on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial reiterated a “hold” rating and issued a $18.00 price objective (up previously from $12.00) on shares of Sunrun in a research note on Wednesday. Finally, Barclays increased their target price on Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the transaction, the director now owns 1,294,383 shares in the company, valued at approximately $21,913,904.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Mary Powell sold 1,741 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $14.86, for a total transaction of $25,871.26. Following the completion of the transaction, the chief executive officer now directly owns 589,927 shares in the company, valued at $8,766,315.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the director now owns 1,294,383 shares in the company, valued at approximately $21,913,904.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,712 shares of company stock valued at $3,706,261. Company insiders own 3.76% of the company’s stock.

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.