Ameresco, Inc. to Post Q1 2024 Earnings of ($0.23) Per Share, B. Riley Forecasts (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Equities researchers at B. Riley dropped their Q1 2024 earnings per share (EPS) estimates for Ameresco in a research report issued to clients and investors on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the utilities provider will post earnings of ($0.23) per share for the quarter, down from their prior forecast of ($0.02). B. Riley currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for Ameresco’s current full-year earnings is $1.39 per share. B. Riley also issued estimates for Ameresco’s Q3 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.66 EPS, FY2024 earnings at $1.38 EPS and FY2025 earnings at $2.10 EPS.

A number of other equities research analysts also recently issued reports on the company. StockNews.com raised Ameresco to a “sell” rating in a research report on Tuesday, April 16th. Guggenheim reissued a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. Oppenheimer reissued a “market perform” rating on shares of Ameresco in a research report on Wednesday, April 17th. Truist Financial lowered their price target on Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Monday. Finally, Canaccord Genuity Group lowered their price target 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.69.

Ameresco Price Performance

Shares of NYSE:AMRC opened at $20.97 on Wednesday. The company has a market cap of $1.10 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.60 and a beta of 1.56. 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 business has a fifty day simple moving average of $21.17 and a 200-day simple moving average of $25.51.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. The business had revenue of $441.40 million during the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The business’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Ameresco by 17.8% in the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after acquiring an additional 176,971 shares in the last quarter. Trustees of Princeton University acquired a new position in shares of Ameresco in the fourth quarter worth about $7,170,000. First Eagle Investment Management LLC lifted its stake in shares of Ameresco by 32.6% in the third quarter. First Eagle Investment Management LLC now owns 284,617 shares of the utilities provider’s stock worth $10,975,000 after acquiring an additional 69,997 shares in the last quarter. Boston Partners acquired a new position in shares of Ameresco in the third quarter worth about $2,143,000. Finally, Deutsche Bank AG lifted its stake in shares of Ameresco by 16.6% in the third quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock worth $658,000 after acquiring an additional 2,426 shares in the last quarter. Institutional investors and hedge funds 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.