Ameresco, Inc. (NYSE:AMRC) Forecasted to Earn Q1 2024 Earnings of ($0.23) Per Share

Ameresco, Inc. (NYSE:AMRC) – Equities research analysts at B. Riley dropped their Q1 2024 earnings estimates for Ameresco in a report issued on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the utilities provider will post earnings of ($0.23) per share for the quarter, down from their previous estimate of ($0.02). 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. B. Riley also issued estimates for Ameresco’s Q3 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.66 EPS, FY2024 earnings at $1.38 EPS and FY2025 earnings at $2.10 EPS.

AMRC has been the topic of a number of other research reports. Truist Financial lowered their target price on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Monday. StockNews.com upgraded shares of Ameresco to a “sell” rating in a research note on Tuesday, April 16th. BNP Paribas upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Tuesday, March 12th. Piper Sandler decreased their price objective on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Ameresco has a consensus rating of “Moderate Buy” and an average price target of $44.69.

Ameresco Trading Up 1.9 %

AMRC opened at $21.29 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24. Ameresco has a fifty-two week low of $17.55 and a fifty-two week high of $63.19. The firm has a market capitalization of $1.11 billion, a PE ratio of 18.04, a P/E/G ratio of 0.55 and a beta of 1.56. The company’s 50-day moving average is $21.22 and its 200 day moving average is $25.54.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMRC. BNP Paribas Asset Management Holding S.A. bought a new position in Ameresco in the 4th quarter worth approximately $22,650,000. First Trust Advisors LP boosted its holdings in Ameresco by 59.9% in the 4th quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock worth $25,128,000 after buying an additional 297,236 shares during the period. Trustees of Princeton University bought a new position in Ameresco in the 4th quarter worth approximately $7,170,000. Ashford Capital Management Inc. bought a new position in Ameresco in the 3rd quarter worth approximately $7,858,000. Finally, Wellington Management Group LLP lifted its stake in Ameresco by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after purchasing an additional 176,971 shares in the last quarter. 99.24% of the stock is owned by 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.