Q2 2024 Earnings Forecast for Ameresco, Inc. Issued By William Blair (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC - Free Report) - Investment analysts at William Blair decreased their Q2 2024 earnings per share estimates for shares of Ameresco in a research report issued on Tuesday, May 7th. William Blair analyst T. Mulrooney now forecasts that the utilities provider will post earnings of $0.26 per share for the quarter, down from their prior estimate of $0.27. The consensus estimate for Ameresco's current full-year earnings is $1.39 per share.

AMRC has been the subject of a number of other reports. Canaccord Genuity Group dropped their price target on Ameresco from $50.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday, February 29th. Stifel Nicolaus cut their target price on shares of Ameresco from $35.00 to $32.00 and set a "buy" rating for the company in a report on Thursday. Robert W. Baird upped their price target on shares of Ameresco from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday. Guggenheim reissued a "neutral" rating on shares of Ameresco in a research note on Thursday, February 29th. Finally, Piper Sandler decreased their target price on shares of Ameresco from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.42.

Ameresco Price Performance

Shares of AMRC traded up $1.01 during midday trading on Thursday, hitting $27.95. 480,480 shares of the company traded hands, compared to its average volume of 534,376. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 0.65 and a beta of 1.60. The firm has a 50 day moving average of $21.28 and a 200-day moving average of $24.73. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. Ameresco has a 52 week low of $17.55 and a 52 week high of $63.19.

Ameresco (NYSE:AMRC - Get Free Report) last released its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $298.41 million for the quarter, compared to the consensus estimate of $255.38 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share.

Hedge Funds Weigh In On Ameresco

A number of large investors have recently bought and sold shares of the business. Quest Partners LLC bought a new stake in shares of Ameresco during the fourth quarter worth $62,000. Cetera Trust Company N.A purchased a new stake in Ameresco in the 4th quarter valued at about $106,000. State Board of Administration of Florida Retirement System grew its stake in Ameresco by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider's stock worth $256,000 after acquiring an additional 1,410 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in Ameresco by 24.6% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 8,672 shares of the utilities provider's stock worth $275,000 after acquiring an additional 1,712 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Ameresco during the third quarter worth approximately $295,000. Hedge funds and other 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.