Ameresco (NYSE:AMRC) Issues Quarterly Earnings Results

Ameresco (NYSE:AMRC - Get Free Report) issued its earnings results on Tuesday. The utilities provider reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01, Briefing.com reports. The company had revenue of $298.41 million during 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%. Ameresco's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. Ameresco updated its FY24 guidance to $1.30-1.50 EPS.

Ameresco Trading Up 21.0 %

AMRC traded up $4.67 during trading on Wednesday, reaching $26.91. The company had a trading volume of 1,555,658 shares, compared to its average volume of 534,974. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. Ameresco has a 52 week low of $17.55 and a 52 week high of $63.19. The stock has a market cap of $1.41 billion, a P/E ratio of 21.14, a PEG ratio of 0.65 and a beta of 1.60. The business has a 50 day simple moving average of $21.15 and a 200-day simple moving average of $24.71.

Analysts Set New Price Targets

Several research firms recently issued reports on AMRC. StockNews.com upgraded Ameresco to a "sell" rating in a research report on Tuesday, April 16th. Piper Sandler lowered their target price on shares of Ameresco from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, April 11th. B. Riley cut their target price on shares of Ameresco from $46.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, February 5th. Guggenheim reiterated a "neutral" rating on shares of Ameresco in a report on Thursday, February 29th. Finally, Truist Financial dropped their price objective on shares of Ameresco from $40.00 to $37.00 and set a "buy" rating for the company in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.42.

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.