Ameresco (NYSE:AMRC – Get Free Report) posted its quarterly earnings data on Monday. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.31, FiscalAI reports. The firm had revenue of $580.32 million for the quarter, compared to the consensus estimate of $572.89 million. Ameresco had a net margin of 1.40% and a return on equity of 2.82%.
Ameresco Stock Performance
Shares of AMRC stock traded up $0.87 on Monday, hitting $22.48. The company had a trading volume of 790,710 shares, compared to its average volume of 595,324. Ameresco has a twelve month low of $18.09 and a twelve month high of $37.14. The company has a quick ratio of 1.66, a current ratio of 1.67 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.19 billion, a P/E ratio of 43.23, a price-to-earnings-growth ratio of 1.61 and a beta of 2.50. The company has a 50-day moving average price of $21.45 and a 200-day moving average price of $26.24.
Insider Buying and Selling
In related news, Director Brian Cox purchased 4,625 shares of Ameresco stock in a transaction that occurred on Friday, August 21st. The stock was bought at an average cost of $21.64 per share, for a total transaction of $100,085.00. Following the completion of the transaction, the director owned 44,325 shares in the company, valued at $959,193. The trade was a 11.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO George Sakellaris purchased 3,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was bought at an average cost of $22.13 per share, with a total value of $66,390.00. Following the completion of the acquisition, the chief executive officer directly owned 1,013,597 shares of the company’s stock, valued at $22,430,901.61. This trade represents a 0.30% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 29,325 shares of company stock valued at $628,664 in the last three months. 45.10% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Ameresco from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Robert W. Baird downgraded shares of Ameresco from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $32.00 in a research note on Tuesday, August 18th. Oppenheimer reissued a “market perform” rating on shares of Ameresco in a report on Tuesday, August 4th. Wall Street Zen raised Ameresco from a “sell” rating to a “hold” rating in a research report on Sunday, September 27th. Finally, Zacks Research lowered Ameresco from a “hold” rating to a “strong sell” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ameresco currently has an average rating of “Hold” and a consensus target price of $41.00.
Check Out Our Latest Stock Report on AMRC
About Ameresco
Ameresco, Inc (NYSE:AMRC) is an energy solutions and renewable energy company that develops, designs, constructs, and operates energy efficiency and infrastructure projects. Its services help public- and private-sector organizations reduce energy consumption, improve facility performance, and transition to lower-carbon energy sources.
The company’s offerings include energy-as-a-service programs, energy audits and efficiency upgrades, solar power systems, battery energy storage, microgrids, distributed energy resources, LED lighting, heating and cooling systems, and renewable natural gas projects.
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