In the latest trading session, Sunrun (RUN) closed at $6.71, marking a +0.75% move from the previous day. This move outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Heading into today, shares of the solar energy products distributor had lost 22.65% over the past month, lagging the Oils-Energy sector's loss of 1.22% and the S&P 500's loss of 7.48% in that time.
The investment community will be closely monitoring the performance of Sunrun in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.29, signifying a 27.5% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $493.5 million, up 7.71% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.72 per share and revenue of $2.26 billion, indicating changes of -154.14% and +10.79%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Sunrun. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.49% higher. Sunrun currently has a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 75, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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