Ameresco (NYSE:AMRC) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Ameresco (NYSE:AMRC – Get Free Report) updated its FY 2024 earnings guidance on Thursday. 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 Trading Down 16.3 %

Shares of AMRC traded down $5.16 during trading hours on Friday, hitting $26.48. 1,048,759 shares of the stock traded hands, compared to its average volume of 405,457. The firm has a market capitalization of $1.39 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.82. Ameresco has a 1-year low of $17.55 and a 1-year high of $39.68. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 1.15. The business has a fifty day moving average of $33.32 and a 200-day moving average of $30.99.

Wall Street Analyst Weigh In

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

View Our Latest Stock Report on AMRC

Insider Buying and Selling

In related 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 5,221 shares of company stock worth $140,814. Company insiders own 42.00% of the company’s stock.

About Ameresco

(Get Free Report)

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.

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