Q1 2024 Earnings Forecast for Ameresco, Inc. (NYSE:AMRC) Issued By B. Riley

Ameresco, Inc. (NYSE:AMRC) – Research analysts at B. Riley lowered their Q1 2024 earnings per share (EPS) estimates for shares of Ameresco in a note issued to investors on Monday, April 22nd. B. Riley analyst C. Souther now forecasts that the utilities provider will post earnings per share of ($0.23) for the quarter, down from their prior forecast of ($0.02). B. Riley has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Ameresco’s current full-year earnings is $1.39 per share. B. Riley also issued estimates for Ameresco’s Q3 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.66 EPS, FY2024 earnings at $1.38 EPS and FY2025 earnings at $2.10 EPS.

Several other brokerages have also recently issued reports on AMRC. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Tuesday, April 16th. Raymond James lowered their price target on Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. Guggenheim reiterated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. Oppenheimer restated a “market perform” rating on shares of Ameresco in a report on Wednesday, April 17th. Finally, BNP Paribas upgraded Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Tuesday, March 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameresco presently has an average rating of “Moderate Buy” and a consensus target price of $44.69.

Ameresco Trading Up 1.9 %

Shares of NYSE AMRC opened at $21.29 on Wednesday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 0.55 and a beta of 1.56. Ameresco has a 12-month low of $17.55 and a 12-month high of $63.19. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The stock’s 50 day simple moving average is $21.22 and its 200 day simple moving average is $25.54.

Ameresco (NYSE:AMRC) last released its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The company had revenue of $441.40 million for 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS.

Hedge Funds Weigh In On Ameresco

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMRC. Handelsbanken Fonder AB increased its stake in Ameresco by 5.7% during the third quarter. Handelsbanken Fonder AB now owns 2,779,592 shares of the utilities provider’s stock valued at $107,181,000 after acquiring an additional 150,000 shares during the period. Bank of New York Mellon Corp boosted its holdings in Ameresco by 4.9% during the third quarter. Bank of New York Mellon Corp now owns 130,116 shares of the utilities provider’s stock valued at $5,017,000 after purchasing an additional 6,032 shares in the last quarter. Redmond Asset Management LLC acquired a new stake in Ameresco during the third quarter valued at approximately $574,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ameresco by 5.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,941 shares of the utilities provider’s stock valued at $576,000 after purchasing an additional 800 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Ameresco by 25.1% during the third quarter. Inspire Investing LLC now owns 8,008 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 1,607 shares in the last quarter. 99.24% of the stock is currently owned by 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.