Ameresco (NYSE:AMRC) Shares Gap Up After Strong Earnings

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $22.24, but opened at $23.80. Ameresco shares last traded at $28.25, with a volume of 383,871 shares.

The utilities provider reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.01. The business had revenue of $298.41 million for the quarter, compared to analysts' expectations of $255.38 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS.

Wall Street Analyst Weigh In

AMRC has been the topic of a number of analyst reports. Oppenheimer reaffirmed a "market perform" rating on shares of Ameresco in a research note on Wednesday, April 17th. StockNews.com raised Ameresco to a "sell" rating in a research note on Tuesday, April 16th. B. Riley reduced their target price on Ameresco from $46.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, February 5th. BNP Paribas raised Ameresco from a "neutral" rating to an "outperform" rating and set a $34.00 target price on the stock in a research note on Tuesday, March 12th. Finally, Raymond James reduced their target price on Ameresco from $40.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 3rd. 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.42.

Institutional Investors Weigh In On Ameresco

Several hedge funds have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in Ameresco in the fourth quarter worth $62,000. Cetera Trust Company N.A bought a new stake in Ameresco in the fourth quarter worth $106,000. Dynamic Advisor Solutions LLC boosted its holdings in Ameresco by 24.6% in the fourth 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. Quantbot Technologies LP bought a new stake in Ameresco in the third quarter worth $295,000. Finally, Victory Capital Management Inc. boosted its holdings in Ameresco by 8.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider's stock worth $295,000 after acquiring an additional 752 shares in the last quarter. 99.24% of the stock is currently owned by institutional investors.

Ameresco Stock Performance

The stock has a market capitalization of $1.41 billion, a P/E ratio of 22.81, a P/E/G ratio of 0.65 and a beta of 1.60. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average price of $21.28 and a 200-day moving average price of $24.73.

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.