Ameresco (NYSE:AMRC) Stock Price Down 9.6% - What's Next?

Key Points

• Ameresco's stock price decreased by 9.6% on Wednesday, closing at $22.49 from a previous close of $24.88, with trading volume dropping 74% compared to average levels.
• Equity analysts have mixed opinions on Ameresco, with ratings ranging from "sell" to "buy" and a consensus price target of $18.33, reflecting uncertainty about the stock's future.
• In its latest quarterly earnings, Ameresco reported $0.27 earnings per share, significantly exceeding analyst estimates, with revenues increasing by 7.8% year-over-year to $472.28 million.

Ameresco, Inc. (NYSE:AMRC - Get Free Report) shares were down 9.6% during trading on Wednesday . The company traded as low as $23.14 and last traded at $22.49. Approximately 176,966 shares changed hands during trading, a decline of 74% from the average daily volume of 673,996 shares. The stock had previously closed at $24.88.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Baird R W cut Ameresco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Jefferies Financial Group increased their price target on shares of Ameresco from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. UBS Group reissued a "sell" rating and set a $11.00 price objective on shares of Ameresco in a research report on Tuesday, June 3rd. Piper Sandler set a $21.00 price objective on Ameresco and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group increased their price target on shares of Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Ameresco has a consensus rating of "Hold" and a consensus price target of $18.33.

Ameresco Stock Down 18.9%

The company's 50-day moving average price is $16.57 and its 200 day moving average price is $15.16. 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 stock has a market cap of $1.06 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.79 and a beta of 2.27.

Ameresco (NYSE:AMRC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. The business had revenue of $472.28 million for the quarter, compared to the consensus estimate of $415.30 million. Ameresco had a net margin of 3.34% and a return on equity of 7.09%. The company's quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. As a group, analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Ameresco

Several institutional investors and hedge funds have recently bought and sold shares of AMRC. Vanguard Group Inc. raised its position in shares of Ameresco by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider's stock valued at $74,767,000 after purchasing an additional 37,359 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ameresco by 22.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider's stock worth $27,230,000 after buying an additional 214,918 shares during the last quarter. Wellington Management Group LLP raised its position in Ameresco by 12.8% during the first quarter. Wellington Management Group LLP now owns 1,100,116 shares of the utilities provider's stock valued at $13,289,000 after purchasing an additional 125,030 shares during the period. Gagnon Securities LLC lifted its position in Ameresco by 69.6% in the first quarter. Gagnon Securities LLC now owns 968,528 shares of the utilities provider's stock worth $11,700,000 after buying an additional 397,326 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Ameresco by 124.4% during the 4th quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider's stock worth $19,682,000 after purchasing an additional 464,737 shares during the period. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

About Ameresco

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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