Ameresco (NYSE:AMRC) Updates FY 2024 Earnings Guidance

Ameresco (NYSE:AMRC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.150-1.350 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

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

Ameresco Stock Performance

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

Insider Transactions at Ameresco

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 value of $132,650.00. Following the completion of the transaction, the chief financial officer now directly owns 1,878 shares in the company, valued at approximately $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 SEC, which is available through this hyperlink. In the last quarter, insiders have sold 5,221 shares of company stock valued at $140,814. 42.00% of the stock is owned by corporate insiders.

About Ameresco

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.