Q2 2024 EPS Estimates for Ameresco, Inc. Decreased by Analyst (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Equities research analysts at B. Riley reduced their Q2 2024 earnings estimates for Ameresco in a research note issued to investors on Monday, April 22nd. B. Riley analyst C. Souther now expects that the utilities provider will post earnings of $0.35 per share for the quarter, down from their prior forecast of $0.36. B. Riley currently has a “Buy” rating and a $40.00 target price 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The business had revenue of $441.40 million for the quarter, compared to analyst estimates of $399.98 million. During the same period in the previous year, the business posted $0.35 earnings per share. The business’s revenue was up 33.1% compared to the same quarter last year.

AMRC has been the topic of several other reports. Truist Financial lowered their target price on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Monday. BNP Paribas upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Tuesday, March 12th. StockNews.com upgraded shares of Ameresco to a “sell” rating in a research report on Tuesday, April 16th. Raymond James lowered their target price on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. Finally, Guggenheim restated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.69.

Ameresco Trading Up 1.9 %

Shares of AMRC opened at $21.29 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average is $21.22 and its two-hundred day moving average is $25.54. Ameresco has a twelve month low of $17.55 and a twelve month high of $63.19. The firm has a market capitalization of $1.11 billion, a P/E ratio of 18.04, a PEG ratio of 0.55 and a beta of 1.56.

Hedge Funds Weigh In On Ameresco

Several institutional investors and hedge funds have recently modified their holdings of AMRC. Quest Partners LLC purchased a new position in shares of Ameresco during the fourth quarter valued at approximately $62,000. Cetera Trust Company N.A purchased a new position in shares of Ameresco during the fourth quarter valued at approximately $106,000. Dynamic Advisor Solutions LLC purchased a new position in shares of Ameresco during the third quarter valued at approximately $268,000. Quantbot Technologies LP purchased a new position in shares of Ameresco during the third quarter valued at approximately $295,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Ameresco by 8.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock valued at $295,000 after buying an additional 752 shares during the period. Hedge funds and other institutional investors own 99.24% 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.