Sunrun (RUN) Gains As Market Dips: What You Should Know
Sunrun (RUN) closed at $56.30 in the latest trading session, marking a +0.48% move from the prior day. This move outpaced the S&P 500's daily loss of 1.86%. Meanwhile, the Dow lost 2.3%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Prior to today's trading, shares of the solar energy products distributor had lost 7.59% over the past month. This has lagged the Oils-Energy sector's gain of 1.94% and the S&P 500's gain of 7.63% in that time.
RUN will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2020. The company is expected to report EPS of $0.02, down 91.3% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $206.28 million, down 4.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.17 per share and revenue of $868.50 million, which would represent changes of -180.95% and +1.16%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for RUN. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 30.77% lower. RUN 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 65, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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