Ameresco (NYSE:AMRC) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ameresco (NYSE:AMRC) announced its quarterly earnings data on Tuesday. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01, Briefing.com reports. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The company had revenue of $298.41 million for the quarter, compared to analysts’ expectations of $255.38 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Ameresco’s revenue was up 10.1% compared to the same quarter last year. Ameresco updated its FY24 guidance to $1.30-1.50 EPS.

Ameresco Stock Performance

Ameresco stock traded up $0.46 during trading hours on Friday, reaching $28.42. 87,224 shares of the stock were exchanged, compared to its average volume of 529,039. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. The stock has a market cap of $1.49 billion, a P/E ratio of 23.69, a P/E/G ratio of 0.65 and a beta of 1.60. The firm’s 50 day moving average is $21.42 and its 200 day moving average is $24.75. Ameresco has a 52-week low of $17.55 and a 52-week high of $63.19.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AMRC shares. Oppenheimer reiterated a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. Canaccord Genuity Group cut their price target on Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. B. Riley reduced their price target on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, February 5th. 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 report on Monday, April 22nd. Finally, Raymond James cut their price objective on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.42.

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.