Ameresco (NYSE:AMRC) Updates FY 2024 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.300-1.500 for the period, compared to the consensus earnings per share estimate of 1.390. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion.

Analysts Set New Price Targets

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

Ameresco Stock Down 2.0 %

AMRC stock opened at $22.24 on Wednesday. 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 fifty-two week low of $17.55 and a fifty-two week high of $63.19. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 0.65 and a beta of 1.60. The business’s fifty day moving average price is $21.15 and its two-hundred day moving average price is $24.71.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. The business had revenue of $441.40 million during 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%. Ameresco’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, equities analysts anticipate that Ameresco will post 1.39 earnings per share for the current year.

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.