Ameresco (NYSE:AMRC) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Ameresco Stock Up 21.0 %

AMRC opened at $26.91 on Thursday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 22.81, a PEG 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. The company’s 50-day moving average is $21.28 and its 200 day moving average is $24.73. Ameresco has a fifty-two week low of $17.55 and a fifty-two week high of $63.19.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Guggenheim restated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. BNP Paribas upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price target for the company in a research report on Tuesday, March 12th. Oppenheimer restated a “market perform” rating on shares of Ameresco in a report on Wednesday, April 17th. StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Wednesday. Finally, Robert W. Baird lifted their target price on Ameresco from $28.00 to $32.00 and gave the company an “outperform” rating 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 given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.92.

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.