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Sunrun (RUN) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Sunrun (RUN - Free Report) closed at $20.30, marking a -1.98% move from the previous day. This change lagged the S&P 500's 0.28% gain on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 0.61%.
Coming into today, shares of the solar energy products distributor had gained 17.01% in the past month. In that same time, the Oils-Energy sector gained 7.68%, while the S&P 500 gained 4.86%.
Wall Street will be looking for positivity from Sunrun as it approaches its next earnings report date. This is expected to be August 2, 2023. The company is expected to report EPS of -$0.34, down 466.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $621.86 million, up 6.38% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.80 per share and revenue of $2.45 billion. These totals would mark changes of -325% and +5.54%, respectively, from last year.
Any recent changes to analyst estimates for Sunrun should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Sunrun is currently sporting a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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Sunrun (RUN) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Sunrun (RUN - Free Report) closed at $20.30, marking a -1.98% move from the previous day. This change lagged the S&P 500's 0.28% gain on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 0.61%.
Coming into today, shares of the solar energy products distributor had gained 17.01% in the past month. In that same time, the Oils-Energy sector gained 7.68%, while the S&P 500 gained 4.86%.
Wall Street will be looking for positivity from Sunrun as it approaches its next earnings report date. This is expected to be August 2, 2023. The company is expected to report EPS of -$0.34, down 466.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $621.86 million, up 6.38% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.80 per share and revenue of $2.45 billion. These totals would mark changes of -325% and +5.54%, respectively, from last year.
Any recent changes to analyst estimates for Sunrun should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Sunrun is currently sporting a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.