Ameresco (NYSE:AMRC) Releases FY24 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.30-1.50 for the period, compared to the consensus estimate of $1.36. The company issued revenue guidance of $1.60-1.70 billion, compared to the consensus revenue estimate of $1.63 billion.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Oppenheimer restated a market perform rating on shares of Ameresco in a report on Wednesday, April 17th. Truist Financial reduced their price target on Ameresco from $40.00 to $37.00 and set a buy rating on the stock in a research report on Monday, April 22nd. StockNews.com raised Ameresco to a sell rating in a research note on Tuesday, April 16th. B. Riley lowered their target price on shares of Ameresco from $46.00 to $40.00 and set a buy rating for the company in a research note on Monday, February 5th. Finally, Piper Sandler reduced their price target on shares of Ameresco from $32.00 to $30.00 and set an overweight rating on the stock in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Ameresco presently has an average rating of Moderate Buy and an average price target of $43.42.

Ameresco Stock Performance

AMRC stock traded down $0.45 during midday trading on Tuesday, reaching $22.24. 379,375 shares of the company were exchanged, compared to its average volume of 523,380. Ameresco has a one year low of $17.55 and a one year high of $63.19. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60. The business has a 50-day moving average price of $21.11 and a two-hundred day moving average price of $24.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24.

Ameresco (NYSE:AMRC) last announced its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The firm had revenue of $441.40 million for the quarter, compared to analyst estimates of $399.98 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The business’s revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. Equities research analysts forecast that Ameresco will post 1.39 EPS for the current year.

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.