Ameresco (NYSE:AMRC) Releases Earnings Results, Beats Estimates By $0.08 EPS

Ameresco (NYSE:AMRC) posted its quarterly earnings data on Monday. The utilities provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08, FiscalAI reports. Ameresco had a return on equity of 6.97% and a net margin of 3.34%.The firm had revenue of $581.03 million during the quarter, compared to analyst estimates of $556.09 million.

Ameresco Price Performance

Shares of AMRC stock traded up $0.49 during trading hours on Monday, hitting $30.95. The stock had a trading volume of 459,496 shares, compared to its average volume of 485,248. The stock’s 50-day moving average price is $31.45 and its two-hundred day moving average price is $32.16. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.51 and a quick ratio of 1.50. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.05 and a beta of 2.53. Ameresco has a one year low of $8.49 and a one year high of $44.93.

Insider Transactions at Ameresco

In related news, Director Nickolas Stavropoulos sold 15,700 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $34.15, for a total transaction of $536,155.00. Following the sale, the director owned 14,111 shares in the company, valued at approximately $481,890.65. This represents a 52.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 16,645 shares of company stock worth $568,297 in the last quarter. Corporate insiders own 44.96% of the company’s stock.

Hedge Funds Weigh In On Ameresco

A number of hedge funds and other institutional investors have recently modified their holdings of AMRC. AQR Capital Management LLC acquired a new position in shares of Ameresco during the first quarter worth $820,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ameresco by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,477 shares of the utilities provider’s stock valued at $513,000 after acquiring an additional 884 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Ameresco by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,433 shares of the utilities provider’s stock worth $2,687,000 after purchasing an additional 42,499 shares during the period. Empowered Funds LLC purchased a new position in Ameresco during the first quarter valued at approximately $1,187,000. Finally, Creative Planning purchased a new stake in Ameresco in the 2nd quarter worth approximately $153,000. 99.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AMRC shares. William Blair raised Ameresco to a “hold” rating in a report on Tuesday, January 27th. UBS Group raised their price objective on Ameresco from $23.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Stifel Nicolaus upped their price target on Ameresco from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Ameresco in a research report on Monday, December 29th. Finally, Roth Mkm reissued a “buy” rating on shares of Ameresco in a research note on Wednesday, December 3rd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Ameresco presently has an average rating of “Moderate Buy” and an average target price of $37.80.

Ameresco Company Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.