Ameresco (NYSE:AMRC) Updates FY24 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $1.15-$1.35 for the period, compared to the consensus EPS estimate of $1.16. The company issued revenue guidance of $1.7-$1.8 billion, compared to the consensus revenue estimate of $1.75 billion. Ameresco also updated its FY 2024 guidance to 1.150-1.350 EPS.

Wall Street Analysts Forecast Growth

AMRC has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Ameresco in a report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target on the stock. UBS Group boosted their target price on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Wednesday, October 16th. Piper Sandler upped their price objective on shares of Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird upped 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. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ameresco presently has an average rating of “Moderate Buy” and a consensus price target of $36.73.

Ameresco Stock Down 16.3 %

Ameresco stock traded down $5.16 during trading hours on Friday, hitting $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 quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15. Ameresco has a 12-month low of $17.55 and a 12-month high of $39.68. The stock has a market capitalization 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. The stock’s 50-day moving average price is $33.32 and its 200-day moving average price is $30.92.

Insider Buying and Selling at Ameresco

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction of $132,650.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 5,221 shares of company stock worth $140,814. 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.