Ameresco (NYSE:AMRC) Posts Quarterly Earnings Results, Meets Expectations

Ameresco (NYSE:AMRC) announced its earnings results on Monday. The utilities provider reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20, FiscalAI reports. Ameresco had a net margin of 1.59% and a return on equity of 3.33%. The company had revenue of $515.46 million during the quarter, compared to the consensus estimate of $465.18 million.

Ameresco Stock Performance

Ameresco stock traded up $1.76 during trading on Monday, hitting $22.83. The stock had a trading volume of 829,335 shares, compared to its average volume of 556,554. The stock’s 50 day moving average is $27.04 and its two-hundred day moving average is $28.43. Ameresco has a 1 year low of $15.90 and a 1 year high of $44.93. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 1.70 and a beta of 2.60. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 1.64.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AMRC shares. Robert W. Baird reduced their price objective on shares of Ameresco from $44.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Cantor Fitzgerald upped their target price on Ameresco from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Weiss Ratings downgraded Ameresco from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 11th. Zacks Research upgraded Ameresco from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, Guggenheim began coverage on Ameresco in a research report on Friday, May 22nd. They issued a “neutral” rating on the stock. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.56.

Insider Buying and Selling at Ameresco

In other Ameresco news, Director Jennifer L. Miller sold 10,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.27, for a total transaction of $322,700.00. Following the sale, the director directly owned 22,111 shares of the company’s stock, valued at $713,521.97. This represents a 31.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nickolas Stavropoulos sold 1,355 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $34.00, for a total transaction of $46,070.00. Following the transaction, the director owned 14,111 shares of the company’s stock, valued at $479,774. This represents a 8.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,355 shares of company stock worth $852,270 over the last ninety days. 45.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in shares of Ameresco during the first quarter worth $820,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ameresco by 2.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,477 shares of the utilities provider’s stock worth $513,000 after purchasing an additional 884 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Ameresco by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,433 shares of the utilities provider’s stock valued at $2,687,000 after buying an additional 42,499 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Ameresco in the first quarter worth about $1,187,000. Finally, Creative Planning purchased a new position in Ameresco during the second quarter valued at approximately $153,000. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Company Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.