Why Sunrun (RUN) Dipped More Than Broader Market Today
Sunrun (RUN) ended the recent trading session at $16.84, demonstrating a -1% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.17%. Elsewhere, the Dow lost 0.44%, while the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the solar energy products distributor had lost 13.35% over the past month, lagging the Oils-Energy sector's gain of 0.85% and the S&P 500's gain of 1.25% in that time.
The investment community will be closely monitoring the performance of Sunrun in its forthcoming earnings report. The company is expected to report EPS of -$0.13, down 132.5% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $561.33 million, indicating a 0.33% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.16 per share and a revenue of $2.14 billion, signifying shifts of +97.76% and -5.41%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Sunrun. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 55.98% higher. Sunrun currently has a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Sunrun Inc. (RUN) : Free Stock Analysis Report