B. Riley Comments on Ameresco's FY2024 Earnings (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC - Free Report) - Investment analysts at B. Riley raised their FY2024 earnings per share (EPS) estimates for shares of Ameresco in a research note issued to investors on Thursday, February 27th. B. Riley analyst R. Pfingst now expects that the utilities provider will post earnings per share of $1.17 for the year, up from their prior estimate of $1.16. The consensus estimate for Ameresco's current full-year earnings is $1.15 per share. B. Riley also issued estimates for Ameresco's Q4 2024 earnings at $0.86 EPS and FY2025 earnings at $1.30 EPS.

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus decreased their price objective on Ameresco from $34.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday. Canaccord Genuity Group decreased their target price on Ameresco from $36.00 to $27.00 and set a "buy" rating for the company in a research note on Friday, February 28th. StockNews.com upgraded Ameresco to a "sell" rating in a research note on Tuesday, November 12th. Robert W. Baird decreased their price objective on Ameresco from $42.00 to $25.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Finally, UBS Group downgraded Ameresco from a "buy" rating to a "sell" rating and decreased their price objective for the company from $37.00 to $8.00 in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $28.33.

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Ameresco Stock Down 6.6 %

Shares of AMRC traded down $0.66 during midday trading on Monday, hitting $9.27. The company had a trading volume of 1,089,708 shares, compared to its average volume of 596,323. The company's 50-day simple moving average is $21.26 and its 200-day simple moving average is $27.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The firm has a market capitalization of $486.25 million, a P/E ratio of 9.27, a P/E/G ratio of 0.49 and a beta of 1.79. Ameresco has a 1 year low of $9.04 and a 1 year high of $39.68.

Ameresco (NYSE:AMRC - Get Free Report) last released its earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.12. The company had revenue of $532.67 million during the quarter, compared to the consensus estimate of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%.

Insider Transactions at Ameresco

In other Ameresco news, Director Jennifer L. Miller sold 40,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total value of $842,400.00. Following the completion of the transaction, the director now owns 17,225 shares in the company, valued at approximately $362,758.50. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO George P. Sakellaris acquired 50,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $9.96 per share, with a total value of $498,000.00. Following the transaction, the chief executive officer now directly owns 903,638 shares of the company's stock, valued at $9,000,234.48. This represents a 5.86 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 80,408 shares of company stock worth $781,206 over the last 90 days. 42.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMRC. Blue Trust Inc. raised its position in Ameresco by 100.3% in the third quarter. Blue Trust Inc. now owns 781 shares of the utilities provider's stock worth $30,000 after acquiring an additional 391 shares in the last quarter. Harvest Portfolios Group Inc. purchased a new position in Ameresco in the third quarter worth $471,000. Victory Capital Management Inc. purchased a new position in shares of Ameresco in the third quarter valued at $870,000. Zions Bancorporation N.A. increased its position in shares of Ameresco by 18.3% in the third quarter. Zions Bancorporation N.A. now owns 57,145 shares of the utilities provider's stock valued at $2,168,000 after buying an additional 8,835 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Ameresco in the third quarter valued at $359,000. Hedge funds and other institutional investors own 99.24% of the company's stock.

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.