Sunrun (RUN) Exceeds Market Returns: Some Facts to Consider
The most recent trading session ended with Sunrun (RUN) standing at $17, reflecting a +1.01% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.58%. Elsewhere, the Dow gained 0.91%, while the tech-heavy Nasdaq added 0.3%.
Coming into today, shares of the solar energy products distributor had gained 23.57% in the past month. In that same time, the Oils-Energy sector lost 0.35%, while the S&P 500 gained 4.61%.
Investors will be eagerly watching for the performance of Sunrun in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 21, 2024. On that day, Sunrun is projected to report earnings of -$0.13 per share, which would represent a year-over-year decline of 144.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $499.74 million, down 17.96% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Sunrun. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 13.61% higher. Sunrun is holding a Zacks Rank of #2 (Buy) right now.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RUN in the coming trading sessions, be sure to utilize Zacks.com.
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Sunrun Inc. (RUN) : Free Stock Analysis Report
