Ameresco (NYSE:AMRC) Updates FY 2024 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY 2024 earnings guidance on Thursday morning. 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

A number of equities analysts have weighed in on the stock. 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 increased their price objective on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Wednesday, October 16th. UBS Group raised their target price on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Finally, Piper Sandler upped their price target on shares of Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ameresco presently has a consensus rating of “Moderate Buy” and an average target price of $36.73.

Ameresco Stock Down 16.3 %

AMRC stock traded down $5.16 during midday trading on Friday, hitting $26.48. The company’s 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 current ratio of 1.01 and a quick ratio of 1.00. The company’s fifty day moving average price is $33.32 and its 200 day moving average price is $30.99. The stock has a market capitalization of $1.39 billion, a P/E ratio of 24.75, a PEG ratio of 1.11 and a beta of 1.82. Ameresco has a twelve month low of $17.55 and a twelve month high of $39.68.

Insider Buying and Selling at Ameresco

In other news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now 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 document filed with the SEC, which is available at this link. Insiders sold a total of 5,221 shares of company stock worth $140,814 over the last ninety days. 42.00% of the stock is currently owned by corporate insiders.

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.