Ameresco (NYSE:AMRC) Updates FY 2024 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.300-1.500 for the period, compared to the consensus earnings per share estimate of 1.390. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMRC. Canaccord Genuity Group decreased their price target on shares of Ameresco from $50.00 to $36.00 and set a buy rating for the company in a research note on Thursday, February 29th. Oppenheimer reiterated a market perform rating on shares of Ameresco in a research report on Wednesday, April 17th. B. Riley dropped their price objective on Ameresco from $46.00 to $40.00 and set a buy rating on the stock in a report on Monday, February 5th. Guggenheim reiterated a neutral rating on shares of Ameresco in a research note on Thursday, February 29th. Finally, Piper Sandler decreased their price objective on shares of Ameresco from $32.00 to $30.00 and set an overweight rating on the stock in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Ameresco has an average rating of Moderate Buy and a consensus target price of $40.42.

Ameresco Trading Down 2.4 %

NYSE:AMRC traded down $0.67 during trading hours on Friday, hitting $27.29. The company had a trading volume of 230,167 shares, compared to its average volume of 530,815. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average of $21.42 and a 200 day moving average of $24.75. The company has a market cap of $1.43 billion, a P/E ratio of 23.69, a P/E/G ratio of 0.65 and a beta of 1.60. Ameresco has a 1 year low of $17.55 and a 1 year high of $63.19.

Ameresco (NYSE:AMRC) last posted its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The firm had revenue of $298.41 million for the quarter, compared to analyst estimates of $255.38 million. During the same quarter in the prior year, the company earned $0.03 EPS. Ameresco’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts expect that Ameresco will post 1.39 earnings per share for the current year.

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.