Ameresco (NYSE:AMRC) Issues Quarterly Earnings Results

Ameresco (NYSE:AMRC) posted its quarterly earnings results on Monday. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.57 by $0.31, FiscalAI reports. Ameresco had a net margin of 1.40% and a return on equity of 2.82%. The company had revenue of $580.32 million during the quarter, compared to analysts’ expectations of $572.89 million.

Ameresco Stock Up 4.0%

AMRC traded up $0.87 on Monday, reaching $22.48. The company’s stock had a trading volume of 757,818 shares, compared to its average volume of 595,193. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 43.23, a P/E/G ratio of 1.61 and a beta of 2.50. Ameresco has a fifty-two week low of $18.09 and a fifty-two week high of $37.14. The company has a quick ratio of 1.66, a current ratio of 1.67 and a debt-to-equity ratio of 1.33. The stock has a 50 day moving average of $21.45 and a two-hundred day moving average of $26.24.

Insider Activity at Ameresco

In related news, CEO George P. Sakellaris bought 3,000 shares of the stock in a transaction dated Friday, August 28th. The stock was acquired at an average price of $22.13 per share, for a total transaction of $66,390.00. Following the acquisition, the chief executive officer owned 1,013,597 shares in the company, valued at approximately $22,430,901.61. This represents a 0.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Sutton bought 9,700 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $20.87 per share, for a total transaction of $202,439.00. Following the completion of the transaction, the director directly owned 80,246 shares in the company, valued at approximately $1,674,734.02. The trade was a 13.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 29,325 shares of company stock worth $628,664 in the last ninety days. Company insiders own 45.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMRC. Wall Street Zen upgraded shares of Ameresco from a “sell” rating to a “hold” rating in a report on Sunday, September 27th. Zacks Research downgraded shares of Ameresco from a “hold” rating to a “strong sell” rating in a research note on Monday, October 12th. Jefferies Financial Group raised Ameresco to a “strong-buy” rating in a report on Thursday, September 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Ameresco in a report on Tuesday, November 3rd. Finally, BNP Paribas Exane upgraded Ameresco from a “neutral” rating to an “outperform” rating and raised their price target for the company from $34.00 to $40.00 in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.00.

About Ameresco

Ameresco, Inc (NYSE:AMRC) is an energy solutions and renewable energy company that develops, designs, constructs, and operates energy efficiency and infrastructure projects. Its services help public- and private-sector organizations reduce energy consumption, improve facility performance, and transition to lower-carbon energy sources.

The company’s offerings include energy-as-a-service programs, energy audits and efficiency upgrades, solar power systems, battery energy storage, microgrids, distributed energy resources, LED lighting, heating and cooling systems, and renewable natural gas projects.