Q1 2023 Earnings Estimate for Ameresco, Inc. (NYSE:AMRC) Issued By William Blair

Ameresco, Inc. (NYSE:AMRC – Get Rating) – Equities research analysts at William Blair lowered their Q1 2023 earnings per share estimates for Ameresco in a research note issued to investors on Tuesday, February 28th. William Blair analyst T. Mulrooney now forecasts that the utilities provider will earn $0.01 per share for the quarter, down from their prior estimate of $0.39. The consensus estimate for Ameresco’s current full-year earnings is $1.90 per share. William Blair also issued estimates for Ameresco’s FY2023 earnings at $1.72 EPS.

Ameresco (NYSE:AMRC – Get Rating) last issued its earnings results on Monday, February 27th. The utilities provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). Ameresco had a return on equity of 12.82% and a net margin of 5.20%. The company had revenue of $331.73 million during the quarter, compared to analysts’ expectations of $365.63 million. During the same quarter in the previous year, the company earned $0.50 EPS. The firm’s quarterly revenue was down 20.2% compared to the same quarter last year.

AMRC has been the topic of a number of other research reports. Robert W. Baird lowered their target price on Ameresco from $70.00 to $54.00 and set an “outperform” rating on the stock in a research note on Tuesday. Roth Capital upgraded Ameresco from a “sell” rating to a “neutral” rating and set a $44.00 price target on the stock in a research report on Wednesday. Craig Hallum decreased their target price on Ameresco from $82.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday. Roth Mkm upgraded Ameresco from a “sell” rating to a “neutral” rating and set a $44.00 target price on the stock in a research report on Wednesday. Finally, Oppenheimer decreased their target price on Ameresco from $76.00 to $64.00 and set an “outperform” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.29.

Ameresco Stock Down 5.2 %

Shares of AMRC opened at $44.24 on Thursday. Ameresco has a 52 week low of $40.73 and a 52 week high of $86.73. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 0.89 and a beta of 1.15. The stock’s 50-day moving average price is $57.04 and its 200-day moving average price is $61.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AMRC. JPMorgan Chase & Co. boosted its position in shares of Ameresco by 24.8% during the first quarter. JPMorgan Chase & Co. now owns 89,815 shares of the utilities provider’s stock worth $7,141,000 after buying an additional 17,857 shares during the period. MetLife Investment Management LLC boosted its position in shares of Ameresco by 58.9% during the first quarter. MetLife Investment Management LLC now owns 15,991 shares of the utilities provider’s stock worth $1,271,000 after buying an additional 5,927 shares during the period. Rhumbline Advisers boosted its holdings in Ameresco by 6.8% in the first quarter. Rhumbline Advisers now owns 32,223 shares of the utilities provider’s stock valued at $2,562,000 after purchasing an additional 2,055 shares during the period. BlackRock Inc. boosted its holdings in Ameresco by 3.2% in the first quarter. BlackRock Inc. now owns 2,355,254 shares of the utilities provider’s stock valued at $187,241,000 after purchasing an additional 72,667 shares during the period. Finally, Cibc World Market Inc. boosted its holdings in Ameresco by 5.1% in the first quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider’s stock valued at $658,000 after purchasing an additional 399 shares during the period. 57.50% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Company Profile

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Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.