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 Performance

NYSE AMRC traded up $1.01 during trading hours on Thursday, reaching $27.95. The stock had a trading volume of 480,480 shares, compared to its average volume of 534,376. 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 stock has a fifty day moving average of $21.28 and a 200 day moving average of $24.73. Ameresco has a 52-week low of $17.55 and a 52-week high of $63.19. The stock has a market cap of $1.46 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60.

Ameresco (NYSE:AMRC) last announced 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. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The company had revenue of $298.41 million during the quarter, compared to analysts’ expectations of $255.38 million. During the same period last year, the business earned $0.03 earnings per share. Ameresco’s quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Ameresco will post 1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMRC shares. B. Riley decreased their target price on shares of Ameresco from $46.00 to $40.00 and set a buy rating on the stock in a research note on Monday, February 5th. Canaccord Genuity Group decreased their price objective on shares of Ameresco from $50.00 to $36.00 and set a buy rating for the company in a research report on Thursday, February 29th. Raymond James decreased their price objective on shares of Ameresco from $40.00 to $35.00 and set an outperform rating for the company in a research note on Wednesday, April 3rd. Stifel Nicolaus cut their price target on Ameresco from $35.00 to $32.00 and set a buy rating on the stock in a research report on Thursday. Finally, Piper Sandler reduced their target price on shares of Ameresco from $32.00 to $30.00 and set an overweight rating for the company in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Ameresco currently has a consensus rating of Moderate Buy and an average price target of $40.42.

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.