Sunrun (NASDAQ:RUN) Releases Earnings Results, Misses Expectations By $0.18 EPS

Sunrun (NASDAQ:RUN) posted its quarterly earnings data on Wednesday. The energy company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.18), Briefing.com reports. Sunrun had a negative return on equity of 1.86% and a negative net margin of 2.84%. The firm had revenue of $204.60 million for the quarter, compared to the consensus estimate of $198.78 million. During the same period in the prior year, the company earned $0.06 EPS. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year.

Shares of RUN stock traded down $2.38 on Friday, reaching $16.36. The company had a trading volume of 4,342,819 shares, compared to its average volume of 1,854,627. The firm has a market capitalization of $2.30 billion, a PE ratio of 71.13, a PEG ratio of 5.65 and a beta of 0.66. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.37 and a quick ratio of 1.15. Sunrun has a one year low of $8.81 and a one year high of $21.42. The firm has a 50-day simple moving average of $19.30.

Several equities research analysts recently weighed in on the stock. Goldman Sachs Group raised shares of Sunrun from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, June 17th. BidaskClub raised shares of Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Bank of America reaffirmed a “buy” rating and set a $23.50 price objective (up previously from $17.50) on shares of Sunrun in a research report on Thursday, April 25th. Barclays assumed coverage on shares of Sunrun in a research report on Thursday, May 16th. They set an “overweight” rating and a $21.00 price objective for the company. Finally, Roth Capital set a $24.00 price objective on shares of Sunrun and gave the stock a “buy” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $21.50.

In related news, major shareholder Global Long Opportunitie Tiger bought 46,515 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was purchased at an average price of $18.25 per share, with a total value of $848,898.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Christopher Dawson sold 8,190 shares of the stock in a transaction dated 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 three months, insiders bought 2,712,396 shares of company stock valued at $49,604,380 and sold 298,599 shares valued at $5,868,100. 9.34% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Sunrun by 10.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 523,905 shares of the energy company’s stock valued at $9,829,000 after buying an additional 50,179 shares during the period. Trexquant Investment LP acquired a new position in shares of Sunrun in the second quarter valued at approximately $709,000. Bank of Montreal Can increased its stake in shares of Sunrun by 301.5% in the second quarter. Bank of Montreal Can now owns 12,977 shares of the energy company’s stock valued at $243,000 after buying an additional 9,745 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of Sunrun in the second quarter valued at approximately $329,000. Finally, Hershey Trust Co. acquired a new position in shares of Sunrun in the second quarter valued at approximately $126,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Understanding Price to Earnings Ratio (PE)

Earnings History for Sunrun (NASDAQ:RUN)

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