Ameresco (NYSE:AMRC) Releases FY24 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.15-$1.35 for the period, compared to the consensus estimate of $1.16. The company issued revenue guidance of $1.7-$1.8 billion, compared to the consensus revenue estimate of $1.75 billion. Ameresco also updated its FY 2024 guidance to 1.150-1.350 EPS.

Analysts Set New Price Targets

Several analysts have issued reports on AMRC shares. Robert W. Baird upped their price objective on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Piper Sandler increased their price target on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. UBS Group upped their price target on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Jefferies Financial Group began coverage on shares of Ameresco in a report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price objective for the company. Finally, StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.73.

Ameresco Trading Down 16.3 %

Ameresco stock traded down $5.16 during midday trading on Friday, reaching $26.48. The stock had a trading volume of 1,048,759 shares, compared to its average volume of 405,457. The firm’s fifty day simple moving average is $33.32 and its two-hundred day simple moving average is $30.92. Ameresco has a twelve month low of $17.55 and a twelve month high of $39.68. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.11 and a beta of 1.82.

Insider Buying and Selling at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of Ameresco stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction of $132,650.00. Following the completion of the sale, the chief financial officer now owns 1,878 shares of the company’s stock, valued at approximately $49,823.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 5,221 shares of company stock valued at $140,814. 42.00% of the stock is currently owned by insiders.

About Ameresco

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.