Ameresco (NYSE:AMRC) Releases FY 2022 Earnings Guidance

Ameresco (NYSE:AMRC – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.85-$1.95 for the period, compared to the consensus estimate of $1.87. The company issued revenue guidance of $1.83 billion-$1.87 billion, compared to the consensus revenue estimate of $1.85 billion.

Ameresco Price Performance

NYSE:AMRC traded down $0.97 during mid-day trading on Friday, reaching $65.94. The stock had a trading volume of 396,835 shares, compared to its average volume of 443,926. The firm has a 50 day moving average price of $50.35 and a two-hundred day moving average price of $56.97. The stock has a market capitalization of $3.42 billion, a P/E ratio of 36.84, a P/E/G ratio of 1.33 and a beta of 1.22. Ameresco has a one year low of $40.73 and a one year high of $101.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.11 and a current ratio of 1.76.

Ameresco (NYSE:AMRC – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The utilities provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.17. Ameresco had a return on equity of 13.93% and a net margin of 5.47%. During the same period in the prior year, the company earned $0.34 earnings per share. As a group, analysts expect that Ameresco will post 1.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Oppenheimer cut their target price on Ameresco from $90.00 to $76.00 in a research note on Tuesday, May 3rd. Stifel Nicolaus lowered their price target on Ameresco from $91.00 to $82.00 and set a buy rating on the stock in a report on Tuesday. Piper Sandler lowered their price target on Ameresco from $62.00 to $57.00 and set a neutral rating on the stock in a report on Tuesday, July 19th. Roth Capital lowered their price target on Ameresco from $52.00 to $44.00 in a report on Tuesday, May 3rd. Finally, Canaccord Genuity Group lowered their price target on Ameresco from $85.00 to $62.00 in a report on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $72.15.

Hedge Funds Weigh In On Ameresco

Several institutional investors have recently added to or reduced their stakes in the company. Cibc World Market Inc. lifted its stake in shares of Ameresco by 5.1% during the 1st quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider’s stock worth $658,000 after acquiring an additional 399 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Ameresco during the 1st quarter worth approximately $50,000. Royal Bank of Canada lifted its stake in shares of Ameresco by 0.3% during the 1st quarter. Royal Bank of Canada now owns 627,895 shares of the utilities provider’s stock worth $49,917,000 after acquiring an additional 1,749 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Ameresco by 6.8% during the 1st quarter. Rhumbline Advisers now owns 32,223 shares of the utilities provider’s stock worth $2,562,000 after acquiring an additional 2,055 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its stake in shares of Ameresco by 32.3% during the 1st quarter. Guggenheim Capital LLC now owns 10,283 shares of the utilities provider’s stock worth $817,000 after acquiring an additional 2,508 shares during the last quarter. Hedge funds and other institutional investors own 51.21% of the company’s stock.

About Ameresco

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Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.