Ameresco (NYSE:AMRC) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Ameresco (NYSE:AMRC) announced its quarterly 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. 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 analysts’ expectations of $255.38 million. During the same period in the prior year, the business posted $0.03 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. Ameresco updated its FY24 guidance to $1.30-1.50 EPS.

Ameresco Trading Up 18.5 %

Shares of NYSE:AMRC traded up $4.12 during mid-day trading on Wednesday, reaching $26.36. The stock had a trading volume of 771,754 shares, compared to its average volume of 525,742. The firm has a 50 day simple moving average of $21.15 and a two-hundred day simple moving average of $24.71. Ameresco has a twelve month low of $17.55 and a twelve month high of $63.19. The firm has a market cap of $1.38 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMRC. Truist Financial dropped their price objective on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a report on Monday, April 22nd. B. Riley decreased their target price on Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, February 5th. StockNews.com raised Ameresco to a “sell” rating in a report on Tuesday, April 16th. Raymond James decreased their price objective on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Finally, Oppenheimer reissued a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.42.

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.