Ameresco (NYSE:AMRC) Updates FY24 Earnings Guidance

Ameresco (NYSE:AMRC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.15-$1.35 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

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

Ameresco Stock Down 16.3 %

NYSE:AMRC traded down $5.16 during trading hours on Friday, hitting $26.48. 1,048,759 shares of the company traded hands, 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. The firm’s 50-day simple moving average is $33.32 and its 200-day simple moving average is $30.92. Ameresco has a one year low of $17.55 and a one year high of $39.68. The company has a market cap of $1.39 billion, a PE ratio of 24.75, a PEG 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 Ameresco stock in a transaction dated 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 owns 1,878 shares of the company’s stock, valued at approximately $49,823.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 5,221 shares of company stock worth $140,814 in the last ninety days. 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.