William Blair Weighs in on Ameresco, Inc.’s Q2 2024 Earnings (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – William Blair reduced their Q2 2024 earnings estimates for Ameresco in a research report issued to clients and investors on Tuesday, May 7th. William Blair analyst T. Mulrooney now expects that the utilities provider will earn $0.26 per share for the quarter, down from their previous forecast of $0.27. The consensus estimate for Ameresco’s current full-year earnings is $1.39 per share.

Several other analysts have also issued reports on the stock. Raymond James decreased their price target on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. Canaccord Genuity Group cut their price target on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Oppenheimer reaffirmed a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. Truist Financial dropped their target price on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Piper Sandler dropped their price target on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.42.

Ameresco Stock Up 21.0 %

AMRC stock opened at $26.91 on Thursday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.65 and a beta of 1.60. The company has a 50 day moving average of $21.28 and a two-hundred day moving average of $24.73. 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 12-month low of $17.55 and a 12-month high of $63.19.

Ameresco (NYSE:AMRC) last posted its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $298.41 million during the quarter, compared to analysts’ expectations of $255.38 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. Ameresco’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS.

Hedge Funds Weigh In On Ameresco

Large investors have recently modified their holdings of the stock. Quest Partners LLC bought a new position in shares of Ameresco in the fourth quarter valued at about $62,000. Cetera Trust Company N.A bought a new position in shares of Ameresco in the fourth quarter valued at about $106,000. Quantbot Technologies LP bought a new position in shares of Ameresco in the third quarter valued at about $295,000. Inspire Investing LLC grew its stake in shares of Ameresco by 25.1% in the third quarter. Inspire Investing LLC now owns 8,008 shares of the utilities provider’s stock valued at $309,000 after acquiring an additional 1,607 shares in the last quarter. Finally, TIAA Trust National Association acquired a new stake in Ameresco in the 3rd quarter worth about $328,000. 99.24% of the stock is owned by institutional investors.

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.