B. Riley Comments on Ameresco, Inc.’s Q1 2024 Earnings (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Research analysts at B. Riley reduced their Q1 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 post earnings per share of ($0.23) for the quarter, down from their prior estimate of ($0.02). B. Riley currently 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. 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.

A number of other brokerages have also recently issued reports on AMRC. Canaccord Genuity Group reduced their price objective on Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. StockNews.com raised Ameresco to a “sell” rating in a research note on Tuesday, April 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. Guggenheim reaffirmed a “neutral” rating on shares of Ameresco in a research note on Thursday, February 29th. Finally, Truist Financial reduced their price objective on Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.69.

Ameresco Trading Up 9.3 %

NYSE AMRC opened at $20.87 on Wednesday. The stock’s 50-day simple moving average is $21.24 and its two-hundred day simple moving average is $25.63. Ameresco has a twelve month low of $17.55 and a twelve month 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 company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.54 and a beta of 1.56.

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

Institutional Trading of Ameresco

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Ameresco by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock valued at $45,083,000 after acquiring an additional 176,971 shares in the last quarter. First Eagle Investment Management LLC boosted its position 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 valued at $10,975,000 after acquiring an additional 69,997 shares in the last quarter. Boston Partners bought a new stake in Ameresco during the 3rd quarter valued at approximately $2,143,000. Deutsche Bank AG boosted its position in Ameresco by 16.6% during the 3rd quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock valued at $658,000 after acquiring an additional 2,426 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings 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 valued at $11,275,000 after purchasing an additional 48,737 shares during the last quarter. 99.24% of the stock is 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.