Sunrun (NASDAQ:RUN) Announces Earnings Results, Beats Expectations By $0.05 EPS

Sunrun (NASDAQ:RUN) posted its earnings results on Thursday. The energy company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05, Zacks reports. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The firm had revenue of $724.56 million for the quarter, compared to the consensus estimate of $601.15 million. During the same period in the prior year, the business posted ($0.37) earnings per share. The business’s quarterly revenue was up 34.9% on a year-over-year basis.

Sunrun Price Performance

Shares of Sunrun stock traded down $3.29 during mid-day trading on Friday, reaching $17.13. 24,978,098 shares of the stock were exchanged, compared to its average volume of 15,329,357. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The company has a market cap of $3.95 billion, a price-to-earnings ratio of -1.48 and a beta of 2.35. The firm has a 50-day simple moving average of $18.43 and a 200 day simple moving average of $12.83. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70.

Analyst Ratings Changes

A number of research analysts have recently commented on RUN shares. Mizuho increased their price objective on Sunrun from $13.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Morgan Stanley set a $20.00 price target on Sunrun in a report on Thursday, October 16th. TD Cowen raised their price objective on shares of Sunrun from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Research downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Finally, UBS Group upped their target price on Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.99.

Insider Transactions at Sunrun

In other Sunrun news, CEO Mary Powell sold 11,699 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $19.34, for a total transaction of $226,258.66. Following the sale, the chief executive officer directly owned 876,590 shares of the company’s stock, valued at approximately $16,953,250.60. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $19.31, for a total transaction of $965,500.00. Following the completion of the transaction, the director owned 850,482 shares of the company’s stock, valued at $16,422,807.42. This trade represents a 5.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 316,956 shares of company stock valued at $5,952,165. 3.37% of the stock is owned by company insiders.

Institutional Trading of Sunrun

Large investors have recently made changes to their positions in the business. Osaic Holdings Inc. increased its stake in shares of Sunrun by 6.3% in the second quarter. Osaic Holdings Inc. now owns 22,386 shares of the energy company’s stock valued at $183,000 after buying an additional 1,332 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Sunrun by 0.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 268,167 shares of the energy company’s stock valued at $2,195,000 after acquiring an additional 1,586 shares in the last quarter. Focus Partners Wealth increased its position in Sunrun by 21.2% in the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock valued at $74,000 after acquiring an additional 2,226 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Sunrun by 181.0% in the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock worth $34,000 after acquiring an additional 2,660 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Sunrun by 2.0% during the second quarter. Thrivent Financial for Lutherans now owns 168,009 shares of the energy company’s stock worth $1,374,000 after purchasing an additional 3,228 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.