Ameresco (NYSE:AMRC) Announces Earnings Results

Ameresco (NYSE:AMRC) posted its quarterly earnings results on Tuesday. The utilities provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01, Briefing.com reports. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The business had revenue of $298.41 million during the quarter, compared to analysts’ expectations of $255.38 million. During the same quarter in the prior year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Ameresco updated its FY24 guidance to $1.30-1.50 EPS.

Ameresco Price Performance

Ameresco stock opened at $26.91 on Thursday. The business has a 50 day simple moving average of $21.28 and a 200-day simple moving average of $24.73. Ameresco has a 12 month low of $17.55 and a 12 month high of $63.19. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24. The stock has a market capitalization of $1.41 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMRC. Raymond James lowered their price target on Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. Guggenheim restated a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. Piper Sandler reduced their price target on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Oppenheimer reiterated a “market perform” rating on shares of Ameresco in a report on Wednesday, April 17th. Finally, B. Riley reduced their price objective on Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.92.

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.