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

Ameresco, Inc. (NYSE:AMRC) – Analysts at B. Riley decreased their Q2 2024 earnings per share (EPS) estimates for Ameresco in a research note issued on Monday, April 22nd. B. Riley analyst C. Souther now forecasts that the utilities provider will earn $0.35 per share for the quarter, down from their prior estimate 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. The business had revenue of $441.40 million for 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%. The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share.

A number of other brokerages have also weighed in on AMRC. Guggenheim reissued a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. BNP Paribas raised shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Tuesday, March 12th. Canaccord Genuity Group dropped their price objective on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Truist Financial dropped their price objective on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Monday. Finally, Raymond James dropped their price objective on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.69.

Ameresco Stock Performance

Shares of AMRC stock opened at $21.29 on Tuesday. The business’s fifty day simple moving average is $21.22 and its 200-day simple moving average is $25.54. The company has a market cap of $1.11 billion, a PE ratio of 18.04, a PEG ratio of 0.55 and a beta of 1.56. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. Ameresco has a 12-month low of $17.55 and a 12-month high of $63.19.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. ARGA Investment Management LP acquired a new position in shares of Ameresco during the 1st quarter worth about $717,000. Bridge City Capital LLC raised its position in shares of Ameresco by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock worth $1,927,000 after purchasing an additional 622 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ameresco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,109,535 shares of the utilities provider’s stock worth $98,479,000 after purchasing an additional 41,199 shares during the last quarter. Granahan Investment Management LLC raised its position in shares of Ameresco by 0.9% during the 4th quarter. Granahan Investment Management LLC now owns 521,672 shares of the utilities provider’s stock worth $16,521,000 after purchasing an additional 4,621 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Ameresco by 59.9% during the 4th quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock worth $25,128,000 after purchasing an additional 297,236 shares during the last quarter. Institutional investors and hedge funds 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.