Ameresco (NYSE:AMRC) Issues FY 2024 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.150-1.350 for the period, compared to the consensus EPS estimate of 1.140. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.7 billion. Ameresco also updated its FY24 guidance to $1.15-$1.35 EPS.

Ameresco Stock Performance

NYSE:AMRC traded down $5.16 during trading hours on Friday, reaching $26.48. The stock had a trading volume of 1,048,759 shares, compared to its average volume of 405,457. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.00 and a current ratio of 1.01. The stock has a 50 day simple moving average of $33.32 and a 200 day simple moving average of $30.99. Ameresco has a 12-month low of $17.55 and a 12-month high of $39.68. The stock has a market cap of $1.39 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.82.

Wall Street Analysts Forecast Growth

AMRC has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. StockNews.com raised Ameresco to a “sell” rating in a research note on Wednesday, October 16th. Jefferies Financial Group began coverage on Ameresco in a research note on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target for the company. Robert W. Baird lifted their price target on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Finally, UBS Group lifted their price target on Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.73.

Insider Transactions at Ameresco

In other news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 5,221 shares of company stock worth $140,814 in the last three months. Corporate 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.