Ameresco (NYSE:AMRC) Issues Earnings Results

Ameresco (NYSE:AMRC) issued its quarterly earnings results on Monday. The utilities provider reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20, FiscalAI reports. Ameresco had a net margin of 1.59% and a return on equity of 3.33%. The company had revenue of $515.46 million during the quarter, compared to analysts’ expectations of $465.18 million.

Ameresco Price Performance

AMRC stock traded up $1.76 on Monday, reaching $22.83. 870,887 shares of the company’s stock were exchanged, compared to its average volume of 557,259. The stock has a fifty day moving average of $27.04 and a 200-day moving average of $28.43. The firm has a market cap of $1.21 billion, a PE ratio of 39.36, a P/E/G ratio of 1.70 and a beta of 2.60. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 1.64. Ameresco has a twelve month low of $15.90 and a twelve month high of $44.93.

Insider Buying and Selling

In other news, Director Jennifer L. Miller sold 10,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $32.27, for a total transaction of $322,700.00. Following the sale, the director owned 22,111 shares in the company, valued at $713,521.97. This trade represents a 31.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Francis V. Wisneski, Jr. sold 10,000 shares of Ameresco stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $30.29, for a total value of $302,900.00. Following the completion of the transaction, the director directly owned 25,232 shares in the company, valued at $764,277.28. This represents a 28.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,355 shares of company stock worth $852,270 in the last ninety days. Insiders own 45.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming acquired a new position in shares of Ameresco during the 4th quarter valued at $27,000. Tower Research Capital LLC TRC lifted its position in shares of Ameresco by 99.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 1,754 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Ameresco during the fourth quarter worth $55,000. Kemnay Advisory Services Inc. purchased a new position in Ameresco in the 4th quarter worth about $69,000. Finally, Creative Planning purchased a new position in shares of Ameresco in the second quarter worth approximately $153,000. 99.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMRC has been the subject of several recent research reports. Zacks Research upgraded Ameresco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Guggenheim began coverage on shares of Ameresco in a research report on Friday, May 22nd. They set a “neutral” rating for the company. Cantor Fitzgerald lifted their price target on Ameresco from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Canaccord Genuity Group increased their price objective on Ameresco from $50.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird lowered their price target on Ameresco from $44.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.56.

Ameresco Company Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas?to?energy, energy storage and microgrid installations.