Analysts Offer Predictions for Ameresco, Inc.’s Q2 2024 Earnings (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Investment analysts at William Blair cut their Q2 2024 earnings per share estimates for Ameresco in a research note issued on Tuesday, May 7th. William Blair analyst T. Mulrooney now expects that the utilities provider will earn $0.26 per share for the quarter, down from their prior estimate of $0.27. The consensus estimate for Ameresco’s current full-year earnings is $1.39 per share.

AMRC has been the subject of several other research reports. StockNews.com raised Ameresco to a “sell” rating in a report on Wednesday. Raymond James reduced their target price on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. Truist Financial lowered their price target on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. B. Riley reduced their price objective on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Finally, Stifel Nicolaus decreased their price objective on Ameresco from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.42.

Ameresco Stock Performance

AMRC opened at $27.95 on Thursday. Ameresco has a 12-month low of $17.55 and a 12-month high of $63.19. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 0.65 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The company’s 50 day moving average is $21.42 and its 200 day moving average is $24.75.

Ameresco (NYSE:AMRC) last posted its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $298.41 million during the quarter, compared to analyst estimates of $255.38 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Quest Partners LLC bought a new stake in shares of Ameresco during the fourth quarter valued at approximately $62,000. Cetera Trust Company N.A bought a new position in Ameresco in the fourth quarter worth about $106,000. State Board of Administration of Florida Retirement System lifted its position in shares of Ameresco by 15.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock valued at $256,000 after buying an additional 1,410 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Ameresco by 24.6% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 8,672 shares of the utilities provider’s stock valued at $275,000 after buying an additional 1,712 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Ameresco during the 3rd quarter worth approximately $295,000. Institutional investors own 99.24% of the company’s stock.

Ameresco Company Profile

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.