Equities Analysts Issue Forecasts for Ameresco Q3 Earnings

Ameresco, Inc. (NYSE:AMRC) – Analysts at B. Riley issued their Q3 2024 EPS estimates for shares of Ameresco in a research note issued to investors on Monday, November 4th. B. Riley analyst R. Pfingst anticipates that the utilities provider will post earnings per share of $0.56 for the quarter. The consensus estimate for Ameresco’s current full-year earnings is $1.16 per share. B. Riley also issued estimates for Ameresco’s Q4 2024 earnings at $0.61 EPS, FY2024 earnings at $1.16 EPS and FY2025 earnings at $1.99 EPS.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The firm had revenue of $437.98 million for the quarter, compared to the consensus estimate of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share.

Several other research firms have also recently weighed in on AMRC. StockNews.com raised shares of Ameresco to a “sell” rating in a report on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of Ameresco in a report on Wednesday, September 4th. They set a “hold” rating and a $33.00 target price for the company. Piper Sandler upped their target price on shares of Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Robert W. Baird upped their target price on shares of Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Finally, UBS Group upped their target price on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Ameresco presently has a consensus rating of “Moderate Buy” and an average price target of $36.73.

Ameresco Stock Down 1.6 %

AMRC opened at $31.65 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average price of $33.40 and a 200-day moving average price of $30.80. Ameresco has a twelve month low of $17.55 and a twelve month high of $39.68. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.16 and a beta of 1.82.

Insider Buying and Selling

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction of $132,650.00. Following the completion of the transaction, the chief financial officer now owns 1,878 shares in the company, valued at $49,823.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 5,221 shares of company stock worth $140,814. 42.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Ameresco

Several hedge funds and other institutional investors have recently made changes to their positions in AMRC. LGT Group Foundation purchased a new stake in shares of Ameresco in the second quarter valued at $20,325,000. Swedbank AB purchased a new position in Ameresco in the 1st quarter worth about $12,065,000. Point72 Asset Management L.P. purchased a new position in Ameresco in the 2nd quarter worth about $10,821,000. Redwood Grove Capital LLC purchased a new position in Ameresco in the 1st quarter worth about $7,170,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Ameresco by 3,389.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider’s stock worth $7,124,000 after buying an additional 179,635 shares during the period. Hedge funds and other institutional investors own 99.24% of the company’s stock.

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.