Ameresco (NYSE:AMRC) Releases Quarterly Earnings Results

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

Ameresco Stock Up 9.1 %

Shares of Ameresco stock opened at $24.26 on Wednesday. The company has a fifty day moving average price of $21.15 and a 200 day moving average price of $24.71. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. Ameresco has a twelve month low of $17.55 and a twelve month high of $63.19. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Guggenheim reiterated a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. StockNews.com raised Ameresco to a “sell” rating in a research note on Tuesday, April 16th. BNP Paribas raised shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Tuesday, March 12th. Canaccord Genuity Group decreased their target price on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, B. Riley dropped their price target on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.