Zacks: Brokerages Anticipate Ameresco, Inc. (AMRC) Will Post Quarterly Sales of $183.30 Million
Analysts expect Ameresco, Inc. (NYSE:AMRC) to report $183.30 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Ameresco’s earnings, with the lowest sales estimate coming in at $176.60 million and the highest estimate coming in at $190.00 million. Ameresco posted sales of $180.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.5%. The business is scheduled to announce its next earnings report on Tuesday, November 7th.
On average, analysts expect that Ameresco will report full-year sales of $183.30 million for the current year, with estimates ranging from $672.70 million to $680.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $721.35 million per share, with estimates ranging from $702.10 million to $740.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Ameresco.
Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $162.53 million. Ameresco had a return on equity of 5.23% and a net margin of 2.16%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS.
Several research analysts have issued reports on the company. Zacks Investment Research raised Ameresco from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Monday, July 3rd. BidaskClub downgraded Ameresco from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $9.00 price objective on Ameresco and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Canaccord Genuity upped their price objective on Ameresco from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $8.25.
Institutional investors have recently modified their holdings of the business. Susquehanna International Group LLP bought a new stake in shares of Ameresco during the 2nd quarter valued at $141,000. Janney Montgomery Scott LLC increased its position in shares of Ameresco by 21.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,748 shares of the utilities provider’s stock valued at $142,000 after buying an additional 3,860 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Ameresco by 8.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,911 shares of the utilities provider’s stock valued at $146,000 after buying an additional 1,529 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Ameresco in the 2nd quarter valued at $148,000. Finally, Pillar Pacific Capital Management LLC bought a new stake in shares of Ameresco in the 2nd quarter valued at $151,000. Institutional investors own 23.83% of the company’s stock.
Shares of Ameresco (NYSE AMRC) traded up 1.97% during trading on Wednesday, hitting $7.75. The company had a trading volume of 176,323 shares. The stock has a market cap of $352.83 million, a PE ratio of 25.75 and a beta of 1.12. The firm has a 50 day moving average of $7.05 and a 200 day moving average of $6.71. Ameresco has a 12-month low of $4.60 and a 12-month high of $7.85.
Ameresco Company Profile
Ameresco, Inc (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include capital and operational upgrades to a facility’s energy infrastructure and the development, construction, ownership and operation of renewable energy plants.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ameresco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameresco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.