Zacks: Brokerages Expect Ameresco, Inc. (NYSE:AMRC) Will Post Quarterly Sales of $418.83 Million

Analysts forecast that Ameresco, Inc. (NYSE:AMRC – Get Rating) will announce sales of $418.83 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Ameresco’s earnings, with the highest sales estimate coming in at $426.00 million and the lowest estimate coming in at $411.80 million. Ameresco posted sales of $252.20 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 66.1%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Ameresco will report full year sales of $1.86 billion for the current financial year, with estimates ranging from $1.84 billion to $1.91 billion. For the next financial year, analysts expect that the firm will report sales of $1.57 billion, with estimates ranging from $1.48 billion to $1.75 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Ameresco.

Ameresco (NYSE:AMRC – Get Rating) last issued its quarterly earnings data on Monday, February 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $415.89 million during the quarter, compared to analysts’ expectations of $414.83 million. Ameresco had a net margin of 5.80% and a return on equity of 11.94%. During the same period last year, the company earned $0.47 earnings per share.

Several research firms recently weighed in on AMRC. Canaccord Genuity Group cut their price target on shares of Ameresco from $100.00 to $85.00 in a report on Tuesday, March 1st. Zacks Investment Research cut shares of Ameresco from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Ameresco from $88.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, February 3rd. Bank of America lowered shares of Ameresco from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $81.00 in a research report on Thursday, March 24th. Finally, TheStreet lowered Ameresco from a “b-” rating to a “c+” rating in a research note on Tuesday, March 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Ameresco currently has an average rating of “Hold” and a consensus target price of $78.75.

In other news, CAO Mark Chiplock sold 2,999 shares of Ameresco stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $78.52, for a total value of $235,481.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Louis P. Maltezos sold 2,985 shares of the stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $83.00, for a total transaction of $247,755.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,984 shares of company stock valued at $2,298,166. 41.68% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quaero Capital S.A. grew its stake in shares of Ameresco by 2.2% during the 1st quarter. Quaero Capital S.A. now owns 91,954 shares of the utilities provider’s stock valued at $7,310,000 after purchasing an additional 1,955 shares during the period. Norges Bank purchased a new stake in Ameresco in the 4th quarter worth approximately $2,447,000. Barclays PLC lifted its holdings in Ameresco by 74.9% during the fourth quarter. Barclays PLC now owns 38,611 shares of the utilities provider’s stock valued at $3,145,000 after purchasing an additional 16,534 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Ameresco by 2.2% during the 4th quarter. BlackRock Inc. now owns 2,282,587 shares of the utilities provider’s stock valued at $185,893,000 after buying an additional 48,991 shares in the last quarter. Finally, Vident Investment Advisory LLC increased its stake in Ameresco by 39.2% in the 4th quarter. Vident Investment Advisory LLC now owns 4,985 shares of the utilities provider’s stock worth $406,000 after buying an additional 1,404 shares in the last quarter. Institutional investors and hedge funds own 49.22% of the company’s stock.

Shares of NYSE AMRC traded down $0.25 during mid-day trading on Friday, reaching $60.65. 5,649 shares of the company’s stock traded hands, compared to its average volume of 423,800. The company has a market capitalization of $3.14 billion, a PE ratio of 45.45, a P/E/G ratio of 1.45 and a beta of 0.78. The business has a 50-day moving average of $66.68. Ameresco has a 1-year low of $42.53 and a 1-year high of $101.86. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.33 and a current ratio of 1.35.

Ameresco Company Profile (Get Rating)

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.

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