B. Riley Weighs in on Ameresco, Inc.’s Q2 2024 Earnings (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Analysts at B. Riley reduced their Q2 2024 earnings per share (EPS) estimates for Ameresco in a report released on Monday, April 22nd. B. Riley analyst C. Souther now forecasts that the utilities provider will earn $0.35 per share for the quarter, down from their prior forecast of $0.36. B. Riley has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for Ameresco’s current full-year earnings is $1.39 per share.

AMRC has been the subject of several other reports. StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Tuesday, April 16th. Piper Sandler cut their price objective on Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Guggenheim reaffirmed a “neutral” rating on shares of Ameresco in a research note on Thursday, February 29th. Canaccord Genuity Group decreased their price objective on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Truist Financial cut their target price on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.69.

Ameresco Trading Up 1.5 %

NYSE:AMRC opened at $19.09 on Tuesday. Ameresco has a 52-week low of $17.55 and a 52-week high of $63.19. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. The stock has a fifty day simple moving average of $21.24 and a 200-day simple moving average of $25.63. The company has a market capitalization of $998.08 million, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.09. The firm had revenue of $441.40 million during the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. Ameresco’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS.

Institutional Investors Weigh In On Ameresco

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in shares of Ameresco by 17.8% during the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after buying an additional 176,971 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in Ameresco by 32.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 284,617 shares of the utilities provider’s stock worth $10,975,000 after acquiring an additional 69,997 shares in the last quarter. Boston Partners bought a new stake in shares of Ameresco in the 3rd quarter worth about $2,143,000. Deutsche Bank AG raised its stake in shares of Ameresco by 16.6% in the 3rd quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock valued at $658,000 after purchasing an additional 2,426 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in shares of Ameresco by 20.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 292,411 shares of the utilities provider’s stock worth $11,275,000 after purchasing an additional 48,737 shares during the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Company Profile

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.