Ameresco (NYSE:AMRC) Releases FY 2024 Earnings Guidance

Ameresco (NYSE:AMRC) updated its FY 2024 earnings guidance on Wednesday. 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Truist Financial cut their target price on Ameresco from $40.00 to $37.00 and set a buy rating on the stock in a research note on Monday, April 22nd. BNP Paribas raised 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. Piper Sandler dropped their price objective on Ameresco from $32.00 to $30.00 and set an overweight rating on the stock in a research report on Thursday, April 11th. B. Riley dropped their price objective on Ameresco from $46.00 to $40.00 and set a buy rating on the stock in a research report on Monday, February 5th. Finally, Stifel Nicolaus dropped their price objective on Ameresco from $35.00 to $32.00 and set a buy rating on the stock in a research report on Thursday. 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. Based on data from MarketBeat, Ameresco presently has an average rating of Moderate Buy and a consensus price target of $40.42.

Ameresco Price Performance

Shares of NYSE:AMRC traded up $1.01 during trading on Thursday, hitting $27.95. 480,480 shares of the company’s stock were exchanged, compared to its average volume of 534,376. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 0.65 and a beta of 1.60. The business’s 50-day simple moving average is $21.28 and its 200 day simple moving average is $24.73. 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.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $298.41 million during the quarter, compared to analysts’ expectations of $255.38 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. As a group, equities analysts predict that Ameresco will post 1.39 EPS for the current 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.