B. Riley Comments on Ameresco’s FY2024 Earnings (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – B. Riley raised their FY2024 earnings per share (EPS) estimates for shares of Ameresco in a research report issued to clients and investors on Thursday, February 27th. B. Riley analyst R. Pfingst now anticipates that the utilities provider will earn $1.17 per share for the year, up from their prior forecast of $1.16. The consensus estimate for Ameresco’s current full-year earnings is $1.15 per share. B. Riley also issued estimates for Ameresco’s Q4 2024 earnings at $0.86 EPS and FY2025 earnings at $1.30 EPS.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The company had revenue of $532.67 million for the quarter, compared to analysts’ expectations of $524.31 million.

A number of other equities research analysts have also recently issued reports on AMRC. StockNews.com upgraded Ameresco to a “sell” rating in a research note on Tuesday, November 12th. Robert W. Baird dropped their price objective on Ameresco from $42.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus increased their price target on Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, November 11th. UBS Group cut Ameresco from a “buy” rating to a “sell” rating and dropped their price target for the company from $37.00 to $8.00 in a research note on Tuesday. Finally, Canaccord Genuity Group dropped their price target on Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.11.

Ameresco Trading Down 9.8 %

Shares of Ameresco stock opened at $9.53 on Monday. Ameresco has a 12-month low of $9.39 and a 12-month high of $39.68. The stock has a market cap of $499.52 million, a P/E ratio of 9.53, a P/E/G ratio of 0.49 and a beta of 1.79. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average is $21.82 and its 200-day moving average is $27.39.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AMRC. Blue Trust Inc. grew its holdings in shares of Ameresco by 100.3% during the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 391 shares in the last quarter. Harvest Portfolios Group Inc. acquired a new stake in shares of Ameresco during the 3rd quarter worth $471,000. Victory Capital Management Inc. acquired a new stake in shares of Ameresco during the 3rd quarter worth $870,000. Zions Bancorporation N.A. grew its holdings in shares of Ameresco by 18.3% during the 3rd quarter. Zions Bancorporation N.A. now owns 57,145 shares of the utilities provider’s stock worth $2,168,000 after purchasing an additional 8,835 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Ameresco during the 3rd quarter worth $359,000. Institutional investors own 99.24% of the company’s stock.

Insiders Place Their Bets

In other Ameresco news, Director Jennifer L. Miller sold 40,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total transaction of $842,400.00. Following the transaction, the director now owns 17,225 shares in the company, valued at $362,758.50. This trade represents a 69.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 42.00% of the company’s stock.

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.