Ameresco (NYSE:AMRC) Releases FY24 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.15-$1.35 for the period, compared to the consensus estimate of $1.16. The company issued revenue guidance of $1.7-$1.8 billion, compared to the consensus revenue estimate of $1.75 billion. Ameresco also updated its FY 2024 guidance to 1.150-1.350 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMRC shares. Piper Sandler increased their price target on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group began coverage on Ameresco in a report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price target for the company. StockNews.com upgraded shares of Ameresco to a “sell” rating in a research report on Wednesday, October 16th. UBS Group upped their target price on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, Robert W. Baird upped their price objective on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ameresco currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.73.

Ameresco Stock Performance

Shares of NYSE AMRC traded down $5.16 during trading hours on Friday, reaching $26.48. 1,048,759 shares of the stock were exchanged, compared to its average volume of 405,457. The stock’s fifty day simple moving average is $33.32 and its 200 day simple moving average is $30.92. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 1.11 and a beta of 1.82. Ameresco has a 52 week low of $17.55 and a 52 week high of $39.68. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.00 and a current ratio of 1.01.

Insider Transactions at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.53, for a total value of $132,650.00. Following the transaction, the chief financial officer now directly owns 1,878 shares in the company, valued at approximately $49,823.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 5,221 shares of company stock valued at $140,814. 42.00% of the stock is currently owned by corporate insiders.

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.