Ameresco (NYSE:AMRC – Get Free Report) posted its quarterly earnings data on Monday. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20, FiscalAI reports. Ameresco had a return on equity of 3.33% and a net margin of 1.59%.The company had revenue of $515.46 million during the quarter, compared to analyst estimates of $465.18 million.
Ameresco Trading Up 8.3%
NYSE:AMRC traded up $1.76 during trading hours on Monday, reaching $22.83. The company’s stock had a trading volume of 829,335 shares, compared to its average volume of 556,554. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.48 and a current ratio of 1.49. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 1.70 and a beta of 2.60. The firm has a 50-day simple moving average of $27.04 and a 200-day simple moving average of $28.43. Ameresco has a 1 year low of $15.90 and a 1 year high of $44.93.
Insider Activity
In other news, Director Francis V. Wisneski, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $30.29, for a total value of $302,900.00. Following the completion of the sale, the director owned 25,232 shares of the company’s stock, valued at approximately $764,277.28. The trade was a 28.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nickolas Stavropoulos sold 1,355 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $34.00, for a total value of $46,070.00. Following the sale, the director owned 14,111 shares of the company’s stock, valued at $479,774. This represents a 8.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 26,355 shares of company stock valued at $852,270. 45.10% of the stock is currently owned by insiders.
Institutional Trading of Ameresco
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Zacks Research raised Ameresco from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 3rd. Cantor Fitzgerald lifted their target price on shares of Ameresco from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Weiss Ratings cut shares of Ameresco from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 11th. Guggenheim initiated coverage on shares of Ameresco in a research report on Friday, May 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird reduced their target price on Ameresco from $44.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameresco currently has an average rating of “Hold” and a consensus price target of $42.56.
Check Out Our Latest Report on AMRC
About Ameresco
Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.
Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.
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