Ameresco (NYSE:AMRC) Updates FY24 Earnings Guidance

Ameresco (NYSE:AMRC - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.30-1.50 for the period, compared to the consensus estimate of $1.36. The company issued revenue guidance of $1.60-1.70 billion, compared to the consensus revenue estimate of $1.63 billion.

Wall Street Analysts Forecast Growth

AMRC has been the subject of several recent research reports. Oppenheimer reiterated a market perform rating on shares of Ameresco in a research note on Wednesday, April 17th. B. Riley lowered their price objective on shares of Ameresco from $46.00 to $40.00 and set a buy rating on the stock in a research note on Monday, February 5th. Guggenheim reissued a neutral rating on shares of Ameresco in a research note on Thursday, February 29th. Truist Financial dropped their price target on Ameresco from $40.00 to $37.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Finally, Canaccord Genuity Group decreased their price objective on Ameresco from $50.00 to $36.00 and set a buy rating for the company in a research report on Thursday, February 29th. 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 company's stock. According to data from MarketBeat.com, Ameresco has a consensus rating of Moderate Buy and an average target price of $43.42.

Ameresco Stock Down 2.0 %

NYSE:AMRC traded down $0.45 during trading hours on Tuesday, reaching $22.24. The company's stock had a trading volume of 379,375 shares, compared to its average volume of 523,380. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60. Ameresco has a one year low of $17.55 and a one year high of $63.19. The business's 50-day moving average is $21.15 and its 200-day moving average is $24.71.

Ameresco (NYSE:AMRC - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.09. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The company had revenue of $441.40 million during the quarter, compared to the consensus estimate of $399.98 million. During the same quarter in the prior year, the company posted $0.35 EPS. The firm's revenue was up 33.1% on a year-over-year basis. Equities research analysts predict that Ameresco will post 1.39 EPS for the current year.

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.