Wall Street Analysts Forecast Strong Earnings for Sunrun
Analysts from Wall Street anticipate that Sunrun (RUN) will report quarterly earnings of $0.01 per share in its upcoming financial statement, marking a significant year-over-year increase of 102.7%. Revenue forecasts suggest the company will generate approximately $604.92 million, reflecting a growth of 12.6% compared to the same quarter last year. Notably, the consensus earnings per share (EPS) estimate has seen a remarkable upward revision of 1204.1% within the past month, indicating that analysts have collectively reassessed their earlier expectations for the company.
Importance of Earnings Estimate Revisions
When evaluating a company’s impending earnings release, it is essential to take into account any revisions made to earnings estimates. This practice serves as a key indicator, providing insights into how investors might respond to the stock in the short term. Numerous studies highlight a strong correlation between the direction of earnings estimate revisions and a stock’s price movement shortly after earnings announcements.
Analysts’ Projections for Sunrun’s Key Metrics
While investors often rely on consensus earnings and revenue figures to gauge a company’s quarterly performance, examining specific analyst forecasts for crucial metrics can yield deeper insights. With that perspective, we will now explore the average expectations for several metrics related to Sunrun that analysts are closely monitoring.
Projected Revenue Figures for Sunrun
The average estimate for ‘Revenue from Customer Agreements and Incentives’ stands at $474.30 million, indicating a year-over-year increase of 16.9%. Analysts also project that ‘Revenue from Solar Energy Systems and Product Sales’ will reach $124.98 million, reflecting a decrease of 4.8% compared to the previous year. Additionally, the combined forecast for ‘Revenue from Solar Energy Systems’ is expected to be around $60.78 million, which translates to a year-over-year rise of 28.8%.
Furthermore, analysts predict that ‘Revenue from Incentives’ will amount to $46.77 million, showcasing a year-over-year growth of 25.6%. The anticipated ‘Revenue from Products’ is expected to be $68.49 million, which indicates a decline of 18.6% from last year’s figures. Collectively, analysts estimate that ‘Revenue from Customer Agreements’ will reach $467.67 million, reflecting an increase of 26.9%.
Gross Profit Estimates for Sunrun
In terms of gross profits, analysts expect ‘Gross Profit from Solar Energy Systems and Products’ to hit $10.03 million, an improvement from the $6.00 million reported during the same quarter last year. Additionally, it is projected that ‘Gross Profit from Customer Agreements and Incentives’ will reach $109.96 million, compared to $97.48 million in the prior year. According to analysts’ evaluations, the ‘Cost of Solar Energy Systems and Product Sales’ should be around $114.95 million, while the estimate for ‘Cost of Customer Agreements and Incentives’ is set at $375.04 million.
Sunrun’s Stock Performance and Zacks Rank
Over the last month, Sunrun’s stock has seen a return of +3.7%, in contrast to the +2.1% gain observed in the Zacks S&P 500 composite index. Presently, RUN holds a Zacks Rank #3 (Hold), indicating that its performance may mirror the overall market trends in the near future.
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