Zacks: Brokerages Anticipate Ameresco, Inc. (AMRC) Will Post Quarterly Sales of $183.30 Million
Brokerages predict that Ameresco, Inc. (NYSE:AMRC) will announce sales of $183.30 million for the current fiscal quarter, according to Zacks. Two analysts have provided 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 reported sales of $180.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.5%. The company is expected to announce its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Ameresco will report full-year sales of $183.30 million for the current fiscal year, with estimates ranging from $672.70 million to $680.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $721.35 million per share, with estimates ranging from $702.10 million to $740.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Ameresco.
Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06. Ameresco had a net margin of 2.16% and a return on equity of 5.23%. The business had revenue of $166.70 million for the quarter, compared to analyst estimates of $162.53 million. During the same quarter in the prior year, the business earned $0.08 EPS. Ameresco’s quarterly revenue was up 2.5% on a year-over-year basis.
Several equities analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. set a $9.00 target price on shares of Ameresco and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Ameresco from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of Ameresco from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research note on Monday, August 14th. Finally, Canaccord Genuity lifted their target price on shares of Ameresco from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Ameresco has an average rating of “Buy” and a consensus price target of $8.25.
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Ameresco (NYSE:AMRC) opened at 7.75 on Monday. The company has a 50-day moving average of $7.05 and a 200-day moving average of $6.71. The firm has a market cap of $352.83 million, a price-to-earnings ratio of 25.75 and a beta of 1.12. Ameresco has a 52 week low of $4.60 and a 52 week high of $7.85.
Large investors have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new position in Ameresco during the second quarter valued at approximately $141,000. Janney Montgomery Scott LLC grew its stake in Ameresco by 21.6% during the first quarter. Janney Montgomery Scott LLC now owns 21,748 shares of the utilities provider’s stock valued at $142,000 after acquiring an additional 3,860 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Ameresco by 8.8% during the second quarter. Parametric Portfolio Associates LLC now owns 18,911 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 1,529 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Ameresco during the second quarter valued at approximately $148,000. Finally, Pillar Pacific Capital Management LLC purchased a new position in Ameresco during the second quarter valued at approximately $151,000. 23.83% of the stock is owned by institutional investors.
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.
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