Ameresco (NYSE:AMRC) Issues FY24 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.30-1.50 for the period, compared to the consensus EPS estimate of $1.36. The company issued revenue guidance of $1.60-1.70 billion, compared to the consensus revenue estimate of $1.63 billion.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMRC. Guggenheim reissued a neutral rating on shares of Ameresco in a report on Thursday, February 29th. StockNews.com raised shares of Ameresco to a sell rating in a report on Tuesday, April 16th. Oppenheimer reissued a market perform rating on shares of Ameresco in a report on Wednesday, April 17th. B. Riley decreased their price target on shares of Ameresco from $46.00 to $40.00 and set a buy rating for the company in a report on Monday, February 5th. Finally, BNP Paribas raised shares of Ameresco from a neutral rating to an outperform rating and set a $34.00 price target for the company in a report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $43.42.

Ameresco Stock Up 21.0 %

NYSE:AMRC traded up $4.67 on Wednesday, hitting $26.91. 1,555,658 shares of the company’s stock were exchanged, compared to its average volume of 534,974. The firm has a 50-day moving average price of $21.15 and a 200-day moving average price of $24.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24. Ameresco has a 52 week low of $17.55 and a 52 week high of $63.19. The company has a market cap of $1.41 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The firm had revenue of $298.41 million for the quarter, compared to analysts’ expectations of $255.38 million. During the same period in the previous year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, analysts expect that Ameresco will post 1.39 EPS for the current fiscal year.

About Ameresco

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.