Ameresco (NYSE:AMRC) Issues FY 2024 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.150-1.350 for the period, compared to the consensus EPS estimate of 1.360. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.7 billion.

Ameresco Stock Performance

Shares of Ameresco stock traded up $2.00 during trading on Tuesday, hitting $28.85. 596,088 shares of the stock were exchanged, compared to its average volume of 533,739. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 0.86 and a beta of 1.78. The company has a fifty day moving average price of $31.83 and a 200-day moving average price of $25.83. Ameresco has a 1-year low of $17.55 and a 1-year high of $52.01. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.09.

Ameresco (NYSE:AMRC) last announced its earnings results on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.15). The company had revenue of $437.98 million for the quarter, compared to the consensus estimate of $373.75 million. Ameresco had a return on equity of 6.67% and a net margin of 4.17%. The business’s quarterly revenue was up 33.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. As a group, equities analysts predict that Ameresco will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of Ameresco from $28.00 to $32.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. StockNews.com raised Ameresco to a sell rating in a report on Monday, July 1st. Stifel Nicolaus lowered their price target on Ameresco from $35.00 to $32.00 and set a buy rating for the company in a report on Thursday, May 9th. B. Riley raised Ameresco to a strong-buy rating in a report on Tuesday, June 25th. Finally, Piper Sandler lowered their price target on Ameresco from $37.00 to $35.00 and set an overweight rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $38.00.

Insider Buying and Selling

In related news, CAO Mark Chiplock sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $35.00, for a total transaction of $105,000.00. Following the transaction, the chief accounting officer now directly owns 348 shares of the company’s stock, valued at approximately $12,180. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 42.00% of the stock is owned by company insiders.

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.