Ameresco (NYSE:AMRC) Issues 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.

Ameresco Price Performance

Shares of Ameresco stock traded up $1.47 during trading on Tuesday, reaching $28.32. 651,231 shares of the stock traded hands, compared to its average volume of 534,106. Ameresco has a 52-week low of $17.55 and a 52-week high of $52.01. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.96. The business has a fifty day simple moving average of $31.83 and a two-hundred day simple moving average of $25.83. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 0.86 and a beta of 1.78.

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

Analysts Set New Price Targets

AMRC has been the topic of several analyst reports. Oppenheimer reissued a market perform rating on shares of Ameresco in a research note on Wednesday, April 17th. Robert W. Baird boosted their target price on Ameresco from $28.00 to $32.00 and gave the company an outperform rating in a research report on Thursday, May 9th. Piper Sandler lowered their price target on Ameresco from $37.00 to $35.00 and set an overweight rating for the company in a research report on Tuesday. Stifel Nicolaus lowered their target price on shares of Ameresco from $35.00 to $32.00 and set a buy rating for the company in a report on Thursday, May 9th. Finally, UBS Group upped their price target on shares of Ameresco from $36.00 to $39.00 and gave the company a buy rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ameresco presently has a consensus rating of Moderate Buy and a consensus target price of $38.00.

Insiders Place Their Bets

In other Ameresco news, CAO Mark Chiplock sold 3,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $35.00, for a total transaction of $105,000.00. Following the transaction, the chief accounting officer now directly owns 348 shares in the company, valued at approximately $12,180. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 42.00% of the company’s stock.

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.