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

Brokerages expect Ameresco, Inc. (NYSE:AMRC) to announce $306.02 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Ameresco’s earnings. The lowest sales estimate is $287.17 million and the highest is $330.00 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 business is expected to report its next earnings results on Monday, November 1st.

On average, analysts expect that Ameresco will report full-year sales of $1.16 billion for the current financial year, with estimates ranging from $1.14 billion to $1.23 billion. For the next year, analysts forecast that the company will post 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 issued its earnings results on Sunday, August 1st. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. The business 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%.

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

In other news, Director Joseph W. Sutton sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $70.11, for a total transaction of $2,313,630.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nickolas Stavropoulos sold 3,377 shares of Ameresco stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $63.03, for a total value of $212,852.31. The disclosure for this sale can be found here. Insiders sold 148,143 shares of company stock valued at $10,416,639 over the last 90 days. 41.68% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMRC. Nisa Investment Advisors LLC acquired a new position in shares of Ameresco during the 2nd quarter worth $32,000. FMR LLC grew its position in shares of Ameresco by 674.3% in the 2nd quarter. FMR LLC now owns 542 shares of the utilities provider’s stock valued at $34,000 after buying an additional 472 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Ameresco during the 2nd quarter valued at about $45,000. Dark Forest Capital Management LP bought a new stake in shares of Ameresco during the 2nd quarter valued at about $56,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of Ameresco by 42.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,502 shares of the utilities provider’s stock valued at $72,000 after purchasing an additional 445 shares in the last quarter. 49.15% of the stock is owned by hedge funds and other institutional investors.

Shares of AMRC traded down $0.51 during trading hours on Wednesday, reaching $62.49. The company had a trading volume of 233,788 shares, compared to its average volume of 431,246. The firm has a 50 day simple moving average of $66.96 and a 200-day simple moving average of $58.11. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 3.00 and a beta of 0.43. Ameresco has a 12-month low of $30.38 and a 12-month high of $75.88.

About Ameresco

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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