Ameresco, Inc. (NYSE:AMRC) to Post Q2 2023 Earnings of $0.14 Per Share, William Blair Forecasts

Posted by on May 5th, 2023

Ameresco, Inc. (NYSE:AMRC – Get Rating) – Investment analysts at William Blair reduced their Q2 2023 EPS estimates for shares of Ameresco in a note issued to investors on Tuesday, May 2nd. William Blair analyst T. Mulrooney now anticipates that the utilities provider will earn $0.14 per share for the quarter, down from their prior estimate of $0.38. The consensus estimate for Ameresco’s current full-year earnings is $1.82 per share. William Blair also issued estimates for Ameresco’s FY2024 earnings at $2.60 EPS.

Ameresco (NYSE:AMRC – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The utilities provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $271.04 million for the quarter, compared to the consensus estimate of $231.61 million. Ameresco had a return on equity of 12.44% and a net margin of 5.20%. The business’s revenue was down 42.8% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS.

A number of other brokerages have also commented on AMRC. EF Hutton Acquisition Co. I cut their price target on shares of Ameresco from $86.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. Piper Sandler raised shares of Ameresco from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $57.00 to $64.00 in a research note on Friday, March 10th. Craig Hallum lowered their target price on shares of Ameresco from $82.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, February 28th. Roth Mkm raised shares of Ameresco from a “sell” rating to a “neutral” rating and set a $44.00 price target for the company in a research note on Wednesday, March 1st. Finally, Robert W. Baird decreased their price target on shares of Ameresco from $70.00 to $54.00 and set an “outperform” rating for the company in a research note on Tuesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.40.

Ameresco Stock Performance

Shares of Ameresco stock opened at $41.33 on Thursday. Ameresco has a fifty-two week low of $39.62 and a fifty-two week high of $76.54. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 1.22. The firm has a market capitalization of $2.15 billion, a P/E ratio of 27.93, a P/E/G ratio of 0.87 and a beta of 1.27. The company’s 50 day moving average price is $44.96 and its two-hundred day moving average price is $54.40.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMRC. Vanguard Group Inc. lifted its holdings in Ameresco by 6.4% during the third quarter. Vanguard Group Inc. now owns 2,992,738 shares of the utilities provider’s stock valued at $198,956,000 after purchasing an additional 179,495 shares in the last quarter. BlackRock Inc. raised its position in shares of Ameresco by 3.8% during the third quarter. BlackRock Inc. now owns 2,516,621 shares of the utilities provider’s stock valued at $167,305,000 after buying an additional 92,278 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Ameresco by 8.1% during the first quarter. Handelsbanken Fonder AB now owns 2,485,042 shares of the utilities provider’s stock valued at $122,314,000 after buying an additional 186,500 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Ameresco by 1.8% during the fourth quarter. Macquarie Group Ltd. now owns 1,192,606 shares of the utilities provider’s stock valued at $68,146,000 after buying an additional 21,530 shares during the last quarter. Finally, abrdn plc increased its position in Ameresco by 19.7% in the first quarter. abrdn plc now owns 1,190,700 shares of the utilities provider’s stock worth $58,606,000 after purchasing an additional 195,742 shares during the last quarter. 57.50% of the stock is currently owned by institutional investors.

Ameresco Company Profile

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Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.

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Earnings History and Estimates for Ameresco (NYSE:AMRC)

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