Q2 2024 Earnings Estimate for Ameresco, Inc. Issued By William Blair (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Equities researchers at William Blair dropped their Q2 2024 earnings per share estimates for Ameresco in a report released on Tuesday, May 7th. William Blair analyst T. Mulrooney now forecasts that the utilities provider will post earnings of $0.26 per share for the quarter, down from their previous estimate of $0.27. The consensus estimate for Ameresco’s current full-year earnings is $1.39 per share.

A number of other research firms have also issued reports on AMRC. Truist Financial lowered their target price on Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Raymond James reduced their target price on Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. Piper Sandler dropped their price target on Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. BNP Paribas raised 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. Finally, Stifel Nicolaus cut their target price on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating on the stock in a research note 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.42.

Ameresco Stock Up 3.7 %

Shares of AMRC stock opened at $27.95 on Thursday. Ameresco has a 1 year low of $17.55 and a 1 year high of $63.19. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. The business’s fifty day moving average is $21.42 and its 200-day moving average is $24.75. The stock has a market cap of $1.46 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60.

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

Hedge Funds Weigh In On Ameresco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMRC. Rhumbline Advisers boosted its position in Ameresco by 1.0% during the third quarter. Rhumbline Advisers now owns 44,866 shares of the utilities provider’s stock worth $1,730,000 after purchasing an additional 465 shares during the period. Bridge City Capital LLC grew its position in shares of Ameresco by 0.8% in the first quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock valued at $1,927,000 after purchasing an additional 622 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Ameresco by 8.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock worth $295,000 after purchasing an additional 752 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ameresco by 5.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,941 shares of the utilities provider’s stock worth $576,000 after purchasing an additional 800 shares during the last quarter. Finally, Otter Creek Advisors LLC boosted its stake in Ameresco by 1.2% during the 4th quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock valued at $2,181,000 after purchasing an additional 818 shares during the period. 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.