Ameresco (NYSE:AMRC) Posts Earnings Results, Beats Estimates By $0.01 EPS

Ameresco (NYSE:AMRC) announced its earnings results on Tuesday. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01, Briefing.com reports. The business had revenue of $298.41 million during the quarter, compared to analysts’ expectations of $255.38 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. Ameresco updated its FY24 guidance to $1.30-1.50 EPS.

Ameresco Stock Up 21.6 %

AMRC stock traded up $4.81 during mid-day trading on Wednesday, hitting $27.05. 702,025 shares of the company were exchanged, compared to its average volume of 524,914. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. The firm has a market cap of $1.41 billion, a P/E ratio of 21.14, a P/E/G ratio of 0.65 and a beta of 1.60. The firm’s 50 day simple moving average is $21.15 and its 200 day simple moving average is $24.71. Ameresco has a 1-year low of $17.55 and a 1-year high of $63.19.

Analysts Set New Price Targets

AMRC has been the topic of a number of research analyst reports. StockNews.com raised shares of Ameresco to a “sell” rating in a report on Tuesday, April 16th. Truist Financial reduced their target price on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Canaccord Genuity Group reduced their target price on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Oppenheimer reissued a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. Finally, B. Riley reduced their price objective on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.42.

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.