Ameresco (NYSE:AMRC) Releases Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Key Points

• Ameresco reported quarterly EPS of $0.88, beating analyst expectations of $0.57 by $0.31. Revenue was $580.32 million, above the $572.89 million consensus estimate.
• Shares rose 4.0% to $22.48 during Monday trading after the results.
• Company insiders have bought 29,325 shares worth about $628,664 over the past three months. Analysts’ consensus rating is “Hold,” with an average price target of $41.

Ameresco (NYSE:AMRC - Get Free Report) released its quarterly earnings results on Monday. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.57 by $0.31, FiscalAI reports. Ameresco had a return on equity of 2.82% and a net margin of 1.40%. The business had revenue of $580.32 million during the quarter, compared to analyst estimates of $572.89 million.

Ameresco Stock Up 4.0%

Shares of Ameresco stock traded up $0.87 during trading hours on Monday, reaching $22.48. 757,818 shares of the company were exchanged, compared to its average volume of 595,193. Ameresco has a 1 year low of $18.09 and a 1 year high of $37.14. The stock's fifty day moving average is $21.45 and its 200 day moving average is $26.24. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.66 and a current ratio of 1.67. The firm has a market cap of $1.19 billion, a PE ratio of 43.23, a PEG ratio of 1.61 and a beta of 2.50.

Insider Buying and Selling

In related news, CEO George P. Sakellaris purchased 3,000 shares of the business's stock in a transaction on Friday, August 28th. The shares were bought at an average price of $22.13 per share, for a total transaction of $66,390.00. Following the acquisition, the chief executive officer directly owned 1,013,597 shares in the company, valued at $22,430,901.61. This trade represents a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Sutton purchased 9,700 shares of the business's stock in a transaction on Monday, August 24th. The shares were bought at an average price of $20.87 per share, for a total transaction of $202,439.00. Following the acquisition, the director owned 80,246 shares in the company, valued at $1,674,734.02. This trade represents a 13.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 29,325 shares of company stock valued at $628,664 in the last three months. 45.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Oppenheimer reiterated a "market perform" rating on shares of Ameresco in a report on Tuesday, August 4th. Zacks Research cut Ameresco from a "hold" rating to a "strong sell" rating in a report on Monday, October 12th. Jefferies Financial Group raised Ameresco to a "strong-buy" rating in a research report on Thursday, September 3rd. Wall Street Zen upgraded shares of Ameresco from a "sell" rating to a "hold" rating in a research note on Sunday, September 27th. Finally, Cantor Fitzgerald reduced their price target on shares of Ameresco from $44.00 to $36.00 and set an "overweight" rating on the stock in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $41.00.

Ameresco Company Profile

Ameresco, Inc NYSE: AMRC is an energy solutions and renewable energy company that develops, designs, constructs, and operates energy efficiency and infrastructure projects. Its services help public- and private-sector organizations reduce energy consumption, improve facility performance, and transition to lower-carbon energy sources.

The company's offerings include energy-as-a-service programs, energy audits and efficiency upgrades, solar power systems, battery energy storage, microgrids, distributed energy resources, LED lighting, heating and cooling systems, and renewable natural gas projects.

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