Ameresco (NYSE:AMRC) Shares Gap Up on Better-Than-Expected Earnings

Key Points

• Ameresco's share price surged from $16.70 to $21.65 after announcing better-than-expected earnings of $0.27 per share, significantly exceeding analysts' estimates of $0.06.
• The company reported quarterly revenue of $472.28 million, outperforming the consensus estimate of $415.30 million, with a year-over-year revenue increase of 7.8%.
• Despite recent enthusiasm, analysts have mixed ratings on Ameresco, with two sell ratings, three hold ratings, and three buy ratings, reflecting a consensus target price of $18.33.

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s share price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $16.70, but opened at $21.65. Ameresco shares last traded at $22.87, with a volume of 465,539 shares traded.

The utilities provider reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.21. The company had revenue of $472.28 million for the quarter, compared to the consensus estimate of $415.30 million. Ameresco had a return on equity of 6.32% and a net margin of 2.97%. The company's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share.

Wall Street Analyst Weigh In

AMRC has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective on Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Robert W. Baird reaffirmed a "neutral" rating and set a $13.00 price objective (down from $25.00) on shares of Ameresco in a report on Tuesday, April 15th. UBS Group reaffirmed a "sell" rating and set a $11.00 price objective on shares of Ameresco in a report on Tuesday, June 3rd. Wall Street Zen cut shares of Ameresco from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, Baird R W cut shares of Ameresco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $18.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Versor Investments LP bought a new position in Ameresco in the 2nd quarter worth approximately $301,000. Y Intercept Hong Kong Ltd bought a new position in Ameresco in the 2nd quarter worth approximately $575,000. Clean Yield Group raised its position in Ameresco by 3.7% in the 2nd quarter. Clean Yield Group now owns 116,906 shares of the utilities provider's stock worth $1,776,000 after purchasing an additional 4,160 shares during the last quarter. Vanguard Capital Wealth Advisors raised its position in Ameresco by 105.7% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 36,000 shares of the utilities provider's stock worth $547,000 after purchasing an additional 18,500 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Ameresco by 31.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 303,254 shares of the utilities provider's stock worth $4,606,000 after purchasing an additional 72,549 shares during the last quarter. Institutional investors own 99.24% of the company's stock.

Ameresco Stock Up 38.5%

The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.56 and a current ratio of 1.57. The firm's 50-day moving average is $16.35 and its two-hundred day moving average is $15.09. The stock has a market cap of $1.22 billion, a P/E ratio of 22.69, a PEG ratio of 0.75 and a beta of 2.27.

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.

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