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

Ameresco, Inc. (NYSE:AMRC) – Equities research analysts at B. Riley cut their Q2 2024 EPS estimates for Ameresco in a report released on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the utilities provider will earn $0.35 per share for the quarter, down from their prior estimate of $0.36. B. Riley has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Ameresco’s current full-year earnings is $1.39 per share.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.09. The firm had revenue of $441.40 million during the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The business’s revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share.

Several other equities research analysts also recently commented on the company. Piper Sandler decreased their price objective on Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Raymond James dropped their target price on Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Canaccord Genuity Group decreased their price objective on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. BNP Paribas upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price target for the company in a research report on Tuesday, March 12th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.69.

Ameresco Stock Up 9.3 %

AMRC stock opened at $20.87 on Tuesday. The stock’s 50 day simple moving average is $21.24 and its 200 day simple moving average is $25.63. The company has a market cap of $1.09 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. Ameresco has a fifty-two week low of $17.55 and a fifty-two week high of $63.19.

Hedge Funds Weigh In On Ameresco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMRC. Wellington Management Group LLP grew its position in Ameresco by 17.8% in the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after acquiring an additional 176,971 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Ameresco by 32.6% in the third quarter. First Eagle Investment Management LLC now owns 284,617 shares of the utilities provider’s stock valued at $10,975,000 after acquiring an additional 69,997 shares during the period. Boston Partners purchased a new stake in shares of Ameresco during the third quarter worth about $2,143,000. Deutsche Bank AG raised its position in Ameresco by 16.6% during the 3rd quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock valued at $658,000 after purchasing an additional 2,426 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in Ameresco by 20.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 292,411 shares of the utilities provider’s stock worth $11,275,000 after buying an additional 48,737 shares during the period. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

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.