Ameresco, Inc. to Post Q2 2024 Earnings of $0.35 Per Share, B. Riley Forecasts (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC - Free Report) - Equities research analysts at B. Riley lowered their Q2 2024 earnings per share estimates for Ameresco in a research note issued to investors on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the utilities provider will earn $0.35 per share for the quarter, down from their prior forecast of $0.36. B. Riley currently has a "Buy" rating and a $40.00 target price on the stock. The consensus estimate for Ameresco's current full-year earnings is $1.39 per share.

Other equities analysts also recently issued reports about the stock. Truist Financial lowered their target price on shares of Ameresco from $40.00 to $37.00 and set a "buy" rating on the stock in a research report on Monday. Piper Sandler lowered their price target on Ameresco from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, April 11th. Oppenheimer reaffirmed a "market perform" rating on shares of Ameresco in a research report on Wednesday, April 17th. StockNews.com raised Ameresco to a "sell" rating in a research report on Tuesday, April 16th. Finally, BNP Paribas raised Ameresco from a "neutral" rating to an "outperform" rating and set a $34.00 price target on the stock in a research report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Ameresco has an average rating of "Moderate Buy" and a consensus target price of $44.69.

Ameresco Stock Up 9.3 %

Ameresco stock traded up $1.78 during mid-day trading on Tuesday, hitting $20.87. 547,484 shares of the company's stock were exchanged, compared to its average volume of 541,591. 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 stock has a market cap of $1.09 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.54 and a beta of 1.56. Ameresco has a 1-year low of $17.55 and a 1-year high of $63.19. The stock has a 50 day moving average of $21.24 and a two-hundred day moving average of $25.63.

Ameresco (NYSE:AMRC - Get Free Report) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.60 by $0.09. The firm had revenue of $441.40 million for the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The business's quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMRC. Dynamic Advisor Solutions LLC bought a new position in Ameresco during the third quarter worth about $268,000. Rheos Capital Works Inc. increased its holdings in shares of Ameresco by 10.0% during the third quarter. Rheos Capital Works Inc. now owns 275,700 shares of the utilities provider's stock worth $10,631,000 after buying an additional 25,000 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Ameresco by 5.7% during the third quarter. Handelsbanken Fonder AB now owns 2,779,592 shares of the utilities provider's stock worth $107,181,000 after buying an additional 150,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Ameresco by 4.9% during the third quarter. Bank of New York Mellon Corp now owns 130,116 shares of the utilities provider's stock worth $5,017,000 after buying an additional 6,032 shares in the last quarter. Finally, Redmond Asset Management LLC acquired a new stake in shares of Ameresco during the third quarter worth approximately $574,000. Institutional investors own 99.24% of the company's stock.

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.