Why Sunrun (RUN) Outpaced the Stock Market Today
Sunrun (RUN) closed at $15.44 in the latest trading session, marking a +0.85% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.06% for the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.
Prior to today's trading, shares of the solar energy products distributor had lost 6.13% over the past month. This has lagged the Oils-Energy sector's loss of 1.2% and the S&P 500's gain of 6.45% in that time.
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. It is anticipated that the company will report an EPS of -$0.19, marking a 165.52% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $498.73 million, down 18.13% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sunrun. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.23% rise in the Zacks Consensus EPS estimate. Right now, Sunrun possesses a Zacks Rank of #2 (Buy).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 115, placing it within the top 46% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Sunrun Inc. (RUN) : Free Stock Analysis Report
