Ameresco, Inc. (NYSE:AMRC) Expected to Announce Quarterly Sales of $306.02 Million

Analysts expect Ameresco, Inc. (NYSE:AMRC) to report sales of $306.02 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Ameresco’s earnings, with the highest sales estimate coming in at $330.00 million and the lowest estimate coming in at $287.17 million. Ameresco reported sales of $282.51 million in the same quarter last year, which indicates a positive year over year growth rate of 8.3%. The firm is expected to issue its next earnings report on Monday, November 1st.

According to Zacks, analysts expect that Ameresco will report full year sales of $1.16 billion for the current fiscal year, with estimates ranging from $1.14 billion to $1.23 billion. For the next year, analysts anticipate that the firm will report sales of $1.27 billion, with estimates ranging from $1.21 billion to $1.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Ameresco.

Ameresco (NYSE:AMRC) last announced its earnings results on Sunday, August 1st. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The company had revenue of $273.92 million during the quarter, compared to analysts’ expectations of $260.82 million. Ameresco had a net margin of 6.08% and a return on equity of 12.91%.

A number of equities analysts have recently weighed in on AMRC shares. B. Riley boosted their price objective on shares of Ameresco from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 1st. Bank of America lowered shares of Ameresco from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $65.00 to $70.00 in a research report on Friday, July 23rd. Canaccord Genuity cut their price objective on shares of Ameresco from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, August 4th. Piper Sandler boosted their target price on shares of Ameresco from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, September 14th. Finally, Zacks Investment Research downgraded shares of Ameresco from a “buy” rating to a “hold” rating in a report on Tuesday, July 13th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $67.50.

AMRC traded up $1.47 during midday trading on Wednesday, reaching $63.96. 178,066 shares of the company’s stock were exchanged, compared to its average volume of 429,877. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.40 and a quick ratio of 1.37. The stock has a market capitalization of $3.29 billion, a PE ratio of 47.03, a P/E/G ratio of 3.00 and a beta of 0.43. The business’s 50-day moving average price is $67.01 and its 200 day moving average price is $58.44. Ameresco has a 1-year low of $31.84 and a 1-year high of $75.88.

In other news, Director Nickolas Stavropoulos sold 3,377 shares of the company’s stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $63.03, for a total value of $212,852.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George P. Sakellaris sold 41,503 shares of the company’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $72.64, for a total transaction of $3,014,777.92. Following the completion of the sale, the chief executive officer now directly owns 1,095,076 shares in the company, valued at $79,546,320.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,143 shares of company stock valued at $10,416,639. 41.68% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its holdings in shares of Ameresco by 48.9% during the second quarter. Parametric Portfolio Associates LLC now owns 46,647 shares of the utilities provider’s stock worth $2,926,000 after purchasing an additional 15,316 shares during the period. Metropolitan Life Insurance Co NY raised its holdings in shares of Ameresco by 121,228.6% during the second quarter. Metropolitan Life Insurance Co NY now owns 8,493 shares of the utilities provider’s stock worth $533,000 after purchasing an additional 8,486 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Ameresco by 17.2% during the second quarter. MetLife Investment Management LLC now owns 11,093 shares of the utilities provider’s stock worth $696,000 after purchasing an additional 1,629 shares during the period. Pacitti Group Inc. raised its holdings in shares of Ameresco by 22.1% during the second quarter. Pacitti Group Inc. now owns 3,295 shares of the utilities provider’s stock worth $206,000 after purchasing an additional 596 shares during the period. Finally, Balyasny Asset Management LLC acquired a new stake in shares of Ameresco during the second quarter worth $6,360,000. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Company Profile

Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.

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Earnings History and Estimates for Ameresco (NYSE:AMRC)

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