The latest trading session saw Sunrun (RUN) ending at $9.57, denoting a -1.64% adjustment from its last day’s close. This change lagged the S&P 500’s daily gain of 0.12%. On the other hand, the Dow registered a gain of 0.52%, and the technology-centric Nasdaq decreased by 0.23%.
Shares of the solar energy products distributor have depreciated by 2.6% over the course of the past month, outperforming the Oils-Energy sector’s loss of 8.42% and the S&P 500’s loss of 3.45%.
The investment community will be closely monitoring the performance of Sunrun in its forthcoming earnings report. On that day, Sunrun is projected to report earnings of -$0.24 per share, which would represent year-over-year growth of 81.95%. At the same time, our most recent consensus estimate is projecting a revenue of $547.77 million, reflecting a 6.04% rise from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Sunrun. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there’s been no change in the Zacks Consensus EPS estimate. Sunrun is currently sporting a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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