Ameresco, Inc. to Post Q1 2024 Earnings of ($0.23) Per Share, B. Riley Forecasts (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Stock analysts at B. Riley reduced their Q1 2024 EPS estimates for shares of Ameresco in a research report issued on Monday, April 22nd. B. Riley analyst C. Souther now expects 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 currently 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.

A number of other analysts have also recently commented on the stock. Oppenheimer restated a “market perform” rating on shares of Ameresco in a research report on Wednesday, April 17th. Canaccord Genuity Group lowered their price objective on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Truist Financial lowered their price objective on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Monday. Guggenheim restated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. Finally, 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 report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.69.

Ameresco Price Performance

AMRC opened at $20.97 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. Ameresco has a 12 month low of $17.55 and a 12 month high of $63.19. The company has a fifty day simple moving average of $21.17 and a 200 day simple moving average of $25.51. The stock has a market cap of $1.10 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.60 and a beta of 1.56.

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

Hedge Funds Weigh In On Ameresco

A number of large investors have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in shares of Ameresco by 1.0% during the 3rd quarter. Rhumbline Advisers now owns 44,866 shares of the utilities provider’s stock worth $1,730,000 after buying an additional 465 shares during the last quarter. Bridge City Capital LLC boosted its stake in shares of Ameresco by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock worth $1,927,000 after buying an additional 622 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Ameresco by 8.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 752 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ameresco by 5.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,941 shares of the utilities provider’s stock valued at $576,000 after purchasing an additional 800 shares during the period. Finally, Otter Creek Advisors LLC raised its holdings in shares of Ameresco by 1.2% in 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. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.