Ameresco, Inc. (NYSE:AMRC) to Post Q2 2024 Earnings of $0.35 Per Share, B. Riley Forecasts

Ameresco, Inc. (NYSE:AMRC) – Equities researchers at B. Riley decreased their Q2 2024 earnings per share (EPS) estimates for Ameresco in a research note issued to investors on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the utilities provider will post earnings of $0.35 per share for the quarter, down from their previous forecast of $0.36. B. Riley has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Ameresco’s current full-year earnings is $1.39 per share.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.09. The firm had revenue of $441.40 million for the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share.

A number of other research analysts also recently issued reports on the company. Guggenheim reiterated a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. Piper Sandler decreased their price objective on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Raymond James cut their price target on Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Tuesday, April 16th. Finally, BNP Paribas raised shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a research note on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Ameresco presently has an average rating of “Moderate Buy” and a consensus price target of $44.69.

Ameresco Price Performance

Shares of AMRC stock opened at $20.87 on Tuesday. The company’s 50-day simple moving average is $21.24 and its two-hundred day simple moving average is $25.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24. Ameresco has a one year low of $17.55 and a one year high of $63.19. The company has a market capitalization of $1.09 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.54 and a beta of 1.56.

Institutional Trading of Ameresco

A number of hedge funds and other institutional investors have recently made changes to their positions in AMRC. BNP Paribas Asset Management Holding S.A. acquired a new position in shares of Ameresco in the 4th quarter worth $22,650,000. First Trust Advisors LP lifted its stake in Ameresco by 59.9% in the 4th quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock worth $25,128,000 after acquiring an additional 297,236 shares in the last quarter. Trustees of Princeton University acquired a new stake in Ameresco during the 4th quarter worth about $7,170,000. Ashford Capital Management Inc. purchased a new position in Ameresco during the third quarter valued at approximately $7,858,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Ameresco by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock valued at $45,083,000 after buying an additional 176,971 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors.

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.