Ameresco (NYSE:AMRC) Issues Earnings Results

Ameresco (NYSE:AMRC) released its earnings results on Monday. The utilities provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.08, FiscalAI reports. The business had revenue of $581.03 million for the quarter, compared to the consensus estimate of $556.09 million. Ameresco had a return on equity of 6.97% and a net margin of 3.34%.

Ameresco Trading Up 1.6%

AMRC stock traded up $0.49 on Monday, hitting $30.95. 459,496 shares of the company were exchanged, compared to its average volume of 485,248. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.05 and a beta of 2.53. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.51 and a quick ratio of 1.50. The business’s fifty day moving average is $31.45 and its two-hundred day moving average is $32.16. Ameresco has a twelve month low of $8.49 and a twelve month high of $44.93.

Insider Buying and Selling

In other news, Director Nickolas Stavropoulos sold 15,700 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $34.15, for a total value of $536,155.00. Following the transaction, the director directly owned 14,111 shares in the company, valued at $481,890.65. This trade represents a 52.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 16,645 shares of company stock worth $568,297 in the last ninety days. Corporate insiders own 44.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ameresco by 2.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,501 shares of the utilities provider’s stock worth $1,159,000 after purchasing an additional 799 shares during the last quarter. State of Wyoming acquired a new stake in shares of Ameresco in the 4th quarter worth about $27,000. Swiss National Bank raised its holdings in shares of Ameresco by 1.6% during the third quarter. Swiss National Bank now owns 63,800 shares of the utilities provider’s stock valued at $2,142,000 after buying an additional 1,000 shares during the last quarter. Creative Planning boosted its position in Ameresco by 10.7% during the 3rd quarter. Creative Planning now owns 11,115 shares of the utilities provider’s stock worth $373,000 after acquiring an additional 1,070 shares during the period. Finally, Amundi grew its position in Ameresco by 2.8% in the 4th quarter. Amundi now owns 51,576 shares of the utilities provider’s stock valued at $1,511,000 after buying an additional 1,413 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Roth Mkm restated a “buy” rating on shares of Ameresco in a report on Wednesday, December 3rd. UBS Group lifted their target price on Ameresco from $23.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Stifel Nicolaus increased their target price on shares of Ameresco from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Jefferies Financial Group set a $45.00 price objective on shares of Ameresco and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Cantor Fitzgerald assumed coverage on Ameresco in a research note on Friday, January 23rd. They set an “overweight” rating and a $41.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.80.

Ameresco Company Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.