In the latest trading session, Sunrun (RUN) closed at $38.45, marking a +0.76% move from the previous day. The stock lagged the S&P 500's daily gain of 1.53%. Elsewhere, the Dow gained 1.19%, while the tech-heavy Nasdaq added 0.14%.
Prior to today's trading, shares of the solar energy products distributor had gained 7.37% over the past month. This has outpaced the Oils-Energy sector's gain of 3.93% and the S&P 500's loss of 3.1% in that time.
Wall Street will be looking for positivity from Sunrun as it approaches its next earnings report date. The company is expected to report EPS of -$0.01, down 109.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $536.81 million, up 22.34% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.92 per share and revenue of $2.15 billion, which would represent changes of -135.9% and +33.63%, respectively, from the prior year.
Any recent changes to analyst estimates for Sunrun should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 28.98% higher within the past month. 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 90, putting it in the top 36% 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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