Ameresco (NYSE:AMRC – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.30-1.50 for the period, compared to the consensus estimate of $1.36. The company issued revenue guidance of $1.60-1.70 billion, compared to the consensus revenue estimate of $1.63 billion.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on AMRC shares. Truist Financial cut their price target on Ameresco from $40.00 to $37.00 and set a buy rating on the stock in a research note on Monday, April 22nd. Guggenheim reiterated a neutral rating on shares of Ameresco in a research note on Thursday, February 29th. Stifel Nicolaus cut their target price on Ameresco from $35.00 to $32.00 and set a buy rating on the stock in a report on Thursday. Raymond James dropped their price objective on Ameresco from $40.00 to $35.00 and set an outperform rating on the stock in a research note on Wednesday, April 3rd. Finally, B. Riley decreased 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $40.42.
Check Out Our Latest Research Report on Ameresco
Ameresco Stock Performance
Ameresco (NYSE:AMRC – Get Free Report) last posted its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $298.41 million during the quarter, compared to the consensus estimate of $255.38 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, equities analysts expect that Ameresco will post 1.39 EPS 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.
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