Ameresco (NYSE:AMRC) Updates FY24 Earnings Guidance

Ameresco (NYSE:AMRC) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.30-1.50 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

AMRC has been the subject of a number of research reports. Canaccord Genuity Group decreased their target price on Ameresco from $50.00 to $36.00 and set a buy rating for the company in a report on Thursday, February 29th. Truist Financial decreased their target price on Ameresco from $40.00 to $37.00 and set a buy rating for the company in a report on Monday, April 22nd. Oppenheimer reissued a market perform rating on shares of Ameresco in a report on Wednesday, April 17th. Guggenheim reissued a neutral rating on shares of Ameresco in a report on Thursday, February 29th. Finally, StockNews.com raised Ameresco to a sell rating in a report on Tuesday, April 16th. One 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 stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $43.42.

Ameresco Stock Up 21.0 %

AMRC traded up $4.67 on Wednesday, reaching $26.91. The company’s stock had a trading volume of 1,555,658 shares, compared to its average volume of 534,974. The business’s 50 day moving average is $21.15 and its 200 day moving average is $24.71. Ameresco has a 1 year low of $17.55 and a 1 year high of $63.19. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60. 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 (NYSE:AMRC) last announced its quarterly earnings data on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $298.41 million for 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%. Ameresco’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, research analysts forecast 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.