B. Riley Comments on Ameresco’s FY2024 Earnings (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Analysts at B. Riley raised their FY2024 earnings estimates for shares of Ameresco in a research report issued to clients and investors on Thursday, February 27th. B. Riley analyst R. Pfingst now forecasts that the utilities provider will post earnings of $1.17 per share for the year, up from their previous estimate of $1.16. The consensus estimate for Ameresco’s current full-year earnings is $1.15 per share. B. Riley also issued estimates for Ameresco’s Q4 2024 earnings at $0.86 EPS and FY2025 earnings at $1.30 EPS.

Several other analysts have also recently weighed in on AMRC. StockNews.com raised Ameresco to a “sell” rating in a report on Tuesday, November 12th. Canaccord Genuity Group dropped their price objective on Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a report on Friday, February 28th. UBS Group cut Ameresco from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $37.00 to $8.00 in a report on Tuesday. Stifel Nicolaus boosted their price objective on Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Robert W. Baird dropped their price objective on Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ameresco currently has a consensus rating of “Moderate Buy” and an average price target of $30.11.

Ameresco Stock Performance

Shares of NYSE:AMRC opened at $9.53 on Monday. The stock has a market capitalization of $499.52 million, a P/E ratio of 9.53, a P/E/G ratio of 0.49 and a beta of 1.79. Ameresco has a 1-year low of $9.39 and a 1-year high of $39.68. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The business has a 50-day moving average price of $21.82 and a two-hundred day moving average price of $27.39.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.12. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The business had revenue of $532.67 million during the quarter, compared to analysts’ expectations of $524.31 million.

Insider Transactions at Ameresco

In related news, Director Jennifer L. Miller sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total value of $842,400.00. Following the completion of the transaction, the director now directly owns 17,225 shares in the company, valued at approximately $362,758.50. The trade was a 69.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its position in shares of Ameresco by 100.3% in the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 391 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Ameresco by 1,294.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 2,279 shares during the period. FMR LLC boosted its position in Ameresco by 257.9% during the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 3,855 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Ameresco during the 4th quarter worth approximately $146,000. Finally, Cetera Trust Company N.A boosted its position in Ameresco by 6.9% during the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock worth $160,000 after acquiring an additional 440 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.