Zacks: Brokerages Anticipate Ameresco, Inc. (NYSE:AMRC) Will Announce Quarterly Sales of $542.28 Million

Wall Street brokerages forecast that Ameresco, Inc. (NYSE:AMRCGet Rating) will post $542.28 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Ameresco’s earnings. The lowest sales estimate is $527.60 million and the highest is $586.23 million. Ameresco posted sales of $273.92 million during the same quarter last year, which suggests a positive year over year growth rate of 98%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Ameresco will report full-year sales of $1.86 billion for the current year, with estimates ranging from $1.84 billion to $1.91 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.61 billion, with estimates ranging from $1.50 billion to $1.75 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ameresco.

Ameresco (NYSE:AMRCGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.08. Ameresco had a net margin of 5.33% and a return on equity of 12.44%. The company had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $418.42 million. During the same period last year, the business earned $0.25 EPS.

A number of equities analysts recently commented on AMRC shares. Roth Capital cut their price objective on Ameresco from $52.00 to $44.00 in a research note on Tuesday, May 3rd. Stifel Nicolaus lowered their target price on Ameresco from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, March 1st. Robert W. Baird decreased their price target on Ameresco from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Tuesday, May 3rd. Canaccord Genuity Group reduced their price objective on Ameresco from $85.00 to $62.00 in a research note on Tuesday, May 3rd. Finally, Bank of America downgraded Ameresco from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $81.00 in a research note on Thursday, March 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ameresco has an average rating of “Hold” and a consensus target price of $76.00.

In other news, CAO Mark Chiplock sold 3,000 shares of Ameresco stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $73.00, for a total value of $219,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Spencer Doran Hole sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $75.48, for a total value of $1,207,680.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,984 shares of company stock worth $2,298,166 over the last quarter. Corporate insiders own 41.88% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV grew its holdings in Ameresco by 1.0% during the fourth quarter. KBC Group NV now owns 23,641 shares of the utilities provider’s stock valued at $1,925,000 after purchasing an additional 237 shares during the period. Voya Investment Management LLC grew its holdings in Ameresco by 2.1% during the third quarter. Voya Investment Management LLC now owns 12,157 shares of the utilities provider’s stock valued at $710,000 after purchasing an additional 251 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in Ameresco by 1.5% during the first quarter. NorthCrest Asset Manangement LLC now owns 20,200 shares of the utilities provider’s stock valued at $1,606,000 after purchasing an additional 300 shares during the period. Alliancebernstein L.P. grew its holdings in Ameresco by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 31,535 shares of the utilities provider’s stock valued at $2,568,000 after purchasing an additional 300 shares during the period. Finally, Clayton Partners LLC grew its holdings in Ameresco by 1.3% during the first quarter. Clayton Partners LLC now owns 27,621 shares of the utilities provider’s stock valued at $2,196,000 after purchasing an additional 342 shares during the period. 51.21% of the stock is owned by institutional investors.

Shares of NYSE:AMRC traded up $4.79 during midday trading on Friday, hitting $62.54. 484,708 shares of the stock were exchanged, compared to its average volume of 450,520. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 43.43, a P/E/G ratio of 1.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.11 and a current ratio of 2.14. The business’s 50-day moving average price is $62.17 and its 200 day moving average price is $67.39. Ameresco has a 12 month low of $42.53 and a 12 month high of $101.86.

About Ameresco (Get Rating)

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.

See Also

Get a free copy of the Zacks research report on Ameresco (AMRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ameresco (NYSE:AMRC)

Receive News & Ratings for Ameresco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameresco and related companies with MarketBeat.com's FREE daily email newsletter.