Ameresco, Inc. (NYSE:AMRC) Forecasted to Earn Q2 2023 Earnings of $0.12 Per Share

Posted by Defense World Staff on May 17th, 2023

Ameresco, Inc. (NYSE:AMRC – Get Rating) – Research analysts at William Blair decreased their Q2 2023 earnings per share (EPS) estimates for shares of Ameresco in a research report issued on Monday, May 15th. William Blair analyst T. Mulrooney now forecasts that the utilities provider will earn $0.12 per share for the quarter, down from their prior forecast of $0.14. The consensus estimate for Ameresco’s current full-year earnings is $1.79 per share. William Blair also issued estimates for Ameresco’s Q4 2023 earnings at $0.89 EPS and FY2023 earnings at $1.67 EPS.

Ameresco (NYSE:AMRC – Get Rating) last announced its quarterly earnings results on Monday, May 1st. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $271.04 million during the quarter, compared to analyst estimates of $231.61 million. Ameresco had a net margin of 4.85% and a return on equity of 9.74%. The firm’s revenue for the quarter was down 42.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share.

A number of other brokerages have also recently issued reports on AMRC. Raymond James cut their target price on shares of Ameresco from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, April 5th. EF Hutton Acquisition Co. I cut their price target on Ameresco from $86.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. Craig Hallum cut their price target on Ameresco from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. B. Riley cut their price target on Ameresco from $72.00 to $63.00 in a report on Tuesday, April 25th. Finally, Robert W. Baird cut their price target on Ameresco from $70.00 to $54.00 and set an “outperform” rating on the stock in a report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.40.

Ameresco Stock Down 2.7 %

Shares of Ameresco stock opened at $42.47 on Tuesday. The business has a 50-day moving average of $44.25 and a 200-day moving average of $53.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.25 and a quick ratio of 1.23. The company has a market capitalization of $2.21 billion, a PE ratio of 28.70, a P/E/G ratio of 1.02 and a beta of 1.27. Ameresco has a 1-year low of $39.62 and a 1-year high of $76.54.

Insider Buying and Selling

In related news, CFO Spencer Doran Hole sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $42.72, for a total value of $213,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 41.88% of the company’s stock.

Institutional Investors Weigh In On Ameresco

A number of institutional investors have recently modified their holdings of the stock. Ergoteles LLC bought a new stake in Ameresco during the third quarter worth about $729,000. Otter Creek Advisors LLC grew its stake in Ameresco by 989.6% during the fourth quarter. Otter Creek Advisors LLC now owns 59,808 shares of the utilities provider’s stock worth $3,417,000 after buying an additional 54,319 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Ameresco during the fourth quarter valued at approximately $3,516,000. Algert Global LLC grew its stake in shares of Ameresco by 48.6% during the third quarter. Algert Global LLC now owns 38,047 shares of the utilities provider’s stock valued at $2,529,000 after purchasing an additional 12,441 shares during the last quarter. Finally, Robeco Schweiz AG bought a new stake in shares of Ameresco during the fourth quarter valued at approximately $2,971,000. Institutional investors and hedge funds own 57.50% of the company’s stock.

Ameresco Company Profile

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Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.