Ameresco (NYSE:AMRC) Releases FY 2024 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.150-1.350 for the period, compared to the consensus estimate of 1.360. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.7 billion.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AMRC shares. Truist Financial reduced their price objective on Ameresco from $40.00 to $37.00 and set a buy rating for the company in a research note on Monday, April 22nd. UBS Group increased their price target on shares of Ameresco from $36.00 to $39.00 and gave the stock a buy rating in a research note on Tuesday, May 14th. Piper Sandler dropped their price objective on shares of Ameresco from $37.00 to $35.00 and set an overweight rating on the stock in a research note on Tuesday. Oppenheimer reiterated a market perform rating on shares of Ameresco in a research note on Wednesday, April 17th. Finally, StockNews.com upgraded Ameresco to a sell rating in a research report on Monday, July 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ameresco currently has a consensus rating of Moderate Buy and a consensus price target of $38.00.

Ameresco Price Performance

Shares of NYSE AMRC traded up $1.47 during trading on Tuesday, hitting $28.32. 651,231 shares of the company were exchanged, compared to its average volume of 534,106. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.96. Ameresco has a 1 year low of $17.55 and a 1 year high of $52.01. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.86 and a beta of 1.78. The firm’s fifty day moving average price is $31.83 and its 200 day moving average price is $25.83.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Ameresco had a return on equity of 6.67% and a net margin of 4.17%. The company had revenue of $437.98 million for the quarter, compared to analysts’ expectations of $373.75 million. During the same period in the prior year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 33.9% on a year-over-year basis. On average, sell-side analysts expect that Ameresco will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ameresco news, CAO Mark Chiplock sold 3,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $35.00, for a total value of $105,000.00. Following the sale, the chief accounting officer now owns 348 shares of the company’s stock, valued at $12,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.00% of the stock is currently owned by insiders.

Ameresco Company Profile

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, Europe, and internationally. It operates through U.S. Regions, U.S. Federal, Canada, Europe, Alternative Fuels, and All Other segments. The company offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.