Ameresco (NYSE:AMRC) Updates FY24 Earnings Guidance

Ameresco (NYSE:AMRC) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.30-1.50 for the period, compared to the consensus EPS 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.

Ameresco Stock Performance

AMRC stock traded up $0.82 during midday trading on Thursday, hitting $27.76. 308,518 shares of the company traded hands, compared to its average volume of 532,276. 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 twelve month low of $17.55 and a twelve month high of $63.19. The business has a 50 day simple moving average of $21.28 and a 200-day simple moving average of $24.73. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60.

Ameresco (NYSE:AMRC) last released its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The business had revenue of $298.41 million for the quarter, compared to the consensus estimate of $255.38 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts predict that Ameresco will post 1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMRC shares. B. Riley cut their price target on Ameresco from $46.00 to $40.00 and set a buy rating on the stock in a report on Monday, February 5th. StockNews.com raised shares of Ameresco to a sell rating in a research report on Wednesday. Raymond James dropped their price target on Ameresco from $40.00 to $35.00 and set an outperform rating for the company in a report on Wednesday, April 3rd. Stifel Nicolaus decreased their price target on Ameresco from $35.00 to $32.00 and set a buy rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group lowered their price objective on shares of Ameresco from $50.00 to $36.00 and set a buy rating for the company in a research report on Thursday, February 29th. One investment 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.com, the company 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.