Ameresco (NYSE:AMRC) Releases FY 2024 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.300-1.500 for the period, compared to the consensus estimate of 1.390. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion.

Ameresco Stock Down 2.0 %

Ameresco stock opened at $22.24 on Wednesday. The firm has a market cap of $1.16 billion, a PE ratio of 18.85, a P/E/G ratio of 0.65 and a beta of 1.60. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. The firm’s 50 day moving average price is $21.15 and its two-hundred day moving average price is $24.71. Ameresco has a twelve month low of $17.55 and a twelve month high of $63.19.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.09. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The firm had revenue of $441.40 million for the quarter, compared to analyst estimates of $399.98 million. During the same quarter in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. On average, research analysts predict that Ameresco will post 1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMRC. Guggenheim restated a neutral rating on shares of Ameresco in a research note on Thursday, February 29th. StockNews.com upgraded shares of Ameresco to a sell rating in a research note on Tuesday, April 16th. BNP Paribas upgraded shares of Ameresco from a neutral rating to an outperform rating and set a $34.00 target price on the stock in a research note on Tuesday, March 12th. Canaccord Genuity Group lowered their target price on shares of Ameresco from $50.00 to $36.00 and set a buy rating on the stock in a research note on Thursday, February 29th. Finally, Oppenheimer reiterated a market perform rating on shares of Ameresco in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $43.42.

Ameresco Company Profile

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.