Sunrun Inc. (RUN) Releases Earnings Results, Beats Expectations By $0.28 EPS
Sunrun Inc. (NASDAQ:RUN) announced its quarterly earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.28. The firm earned $112 million during the quarter, compared to analyst estimates of $132.61 million. Sunrun had a return on equity of 4.04% and a net margin of 6.94%. Sunrun’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) earnings per share.
Sunrun (NASDAQ:RUN) opened at 4.71 on Friday. Sunrun has a 12 month low of $4.15 and a 12 month high of $14.95. The firm’s market capitalization is $485.47 billion. The stock’s 50 day moving average price is $5.87 and its 200-day moving average price is $5.95.
In related news, major shareholder Foundation Capital Vi Principa sold 42,306 shares of Sunrun stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $5.82, for a total value of $246,220.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder William B. Elmore sold 27,384 shares of Sunrun stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $6.06, for a total transaction of $165,947.04. The disclosure for this sale can be found here. Insiders own 42.19% of the company’s stock.
A number of hedge funds have recently bought and sold shares of RUN. California State Teachers Retirement System increased its stake in Sunrun by 245.1% in the second quarter. California State Teachers Retirement System now owns 132,626 shares of the company’s stock valued at $786,000 after buying an additional 94,196 shares during the period. Robecosam AG increased its stake in Sunrun by 113.5% in the first quarter. Robecosam AG now owns 768,000 shares of the company’s stock valued at $4,969,000 after buying an additional 408,243 shares during the period. Quentec Asset Management LLC increased its stake in Sunrun by 114.0% in the first quarter. Quentec Asset Management LLC now owns 2,506,860 shares of the company’s stock valued at $16,244,000 after buying an additional 1,335,487 shares during the period. JPMorgan Chase & Co. bought a new stake in Sunrun during the second quarter valued at $2,512,000. Finally, Bank of New York Mellon Corp increased its stake in Sunrun by 159.1% in the second quarter. Bank of New York Mellon Corp now owns 135,704 shares of the company’s stock valued at $805,000 after buying an additional 83,325 shares during the period. Hedge funds and other institutional investors own 67.01% of the company’s stock.
A number of brokerages recently issued reports on RUN. Goldman Sachs Group Inc. upgraded Sunrun from a “neutral” rating to a “buy” rating and boosted their price target for the company from $7.00 to $12.00 in a report on Thursday, October 6th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $9.00 price target (up previously from $8.00) on shares of Sunrun in a report on Monday, August 15th. Deutsche Bank AG reiterated a “buy” rating and issued a $15.00 price target on shares of Sunrun in a report on Monday, August 15th. Zacks Investment Research upgraded Sunrun from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a report on Tuesday, August 2nd. Finally, Credit Suisse Group AG assumed coverage on Sunrun in a report on Thursday, November 3rd. They set an “outperform” rating and a $18.00 target price for the company. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Sunrun presently has an average rating of “Buy” and an average target price of $11.59.
Sunrun Inc (Sunrun) is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. Sunrun has over 111,000 customers across 15 states, as well as the District of Columbia.
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