Ameresco (NYSE:AMRC) Issues FY 2024 Earnings Guidance

Ameresco (NYSE:AMRCGet Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.300-1.500 for the period, compared to the consensus earnings per share estimate of 1.810. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion. Ameresco also updated its FY24 guidance to $1.30-1.50 EPS.

Analyst Ratings Changes

AMRC has been the topic of several research analyst reports. William Blair cut shares of Ameresco from an outperform rating to a market perform rating in a research report on Tuesday, November 7th. Raymond James dropped their price objective on Ameresco from $55.00 to $40.00 and set an outperform rating for the company in a report on Tuesday, November 7th. Oppenheimer reiterated a market perform rating on shares of Ameresco in a report on Tuesday, November 7th. Stifel Nicolaus cut their price objective on Ameresco from $69.00 to $38.00 and set a buy rating on the stock in a report on Wednesday, November 8th. Finally, B. Riley decreased their target price on Ameresco from $46.00 to $40.00 and set a buy rating for the company in a report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ameresco presently has a consensus rating of Moderate Buy and a consensus target price of $51.92.

Read Our Latest Analysis on AMRC

Ameresco Stock Down 0.1 %

Shares of Ameresco stock traded down $0.02 during trading hours on Wednesday, hitting $20.32. 590,467 shares of the company’s stock traded hands, compared to its average volume of 471,920. Ameresco has a twelve month low of $18.40 and a twelve month high of $63.19. The company has a market cap of $1.06 billion, a PE ratio of 23.15, a PEG ratio of 0.49 and a beta of 1.56. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 1.14. The stock has a 50 day simple moving average of $25.01 and a 200-day simple moving average of $31.59.

Hedge Funds Weigh In On Ameresco

Institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in Ameresco during the first quarter valued at approximately $50,000. Tower Research Capital LLC TRC lifted its stake in Ameresco by 302.4% during the first quarter. Tower Research Capital LLC TRC now owns 849 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 638 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Ameresco by 85.3% in the fourth quarter. Advisors Asset Management Inc. now owns 1,907 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 878 shares during the period. Quantbot Technologies LP bought a new stake in Ameresco during the second quarter valued at $116,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Ameresco by 9.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,657 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 234 shares during the period. 61.61% of the stock is currently owned by hedge funds and other institutional investors.

About Ameresco

(Get Free Report)

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

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