Ameresco, Inc. to Post Q3 2024 Earnings of $0.48 Per Share, William Blair Forecasts (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Stock analysts at William Blair raised their Q3 2024 EPS estimates for shares of Ameresco in a report issued on Tuesday, May 7th. William Blair analyst T. Mulrooney now anticipates that the utilities provider will post earnings per share of $0.48 for the quarter, up from their previous estimate of $0.44. The consensus estimate for Ameresco’s current full-year earnings is $1.39 per share. William Blair also issued estimates for Ameresco’s Q4 2024 earnings at $0.72 EPS, FY2024 earnings at $1.35 EPS and FY2025 earnings at $1.64 EPS.

A number of other equities research analysts also recently issued reports on AMRC. BNP Paribas upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Tuesday, March 12th. Oppenheimer reiterated a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. Stifel Nicolaus lowered their price target on Ameresco from $35.00 to $32.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler reduced their price objective on Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.42.

Ameresco Stock Performance

NYSE AMRC opened at $27.95 on Friday. The business’s 50-day moving average price is $21.42 and its 200 day moving average price is $24.75. The company has a current ratio of 1.25, a quick ratio of 1.24 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 company has a market capitalization of $1.46 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $298.41 million during the quarter, compared to analyst estimates of $255.38 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share.

Institutional Trading of Ameresco

Hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its holdings in Ameresco by 15.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock worth $256,000 after buying an additional 1,410 shares in the last quarter. Russell Investments Group Ltd. increased its position in Ameresco by 11.6% in the 1st quarter. Russell Investments Group Ltd. now owns 82,273 shares of the utilities provider’s stock valued at $1,985,000 after acquiring an additional 8,542 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Ameresco by 23.8% during the first quarter. Inspire Investing LLC now owns 14,906 shares of the utilities provider’s stock worth $360,000 after purchasing an additional 2,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ameresco by 20.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,966 shares of the utilities provider’s stock valued at $1,157,000 after purchasing an additional 7,995 shares during the last quarter. Finally, ARGA Investment Management LP bought a new stake in shares of Ameresco during the first quarter valued at approximately $717,000. 99.24% of the stock is currently owned by institutional investors.

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.