Ameresco, Inc. (NYSE:AMRC – Free Report) – Stock analysts at William Blair cut their Q3 2023 earnings per share estimates for Ameresco in a research report issued to clients and investors on Thursday, September 7th. William Blair analyst T. Mulrooney now anticipates that the utilities provider will post earnings per share of $0.43 for the quarter, down from their previous estimate of $0.44. The consensus estimate for Ameresco’s current full-year earnings is $1.83 per share. William Blair also issued estimates for Ameresco’s FY2024 earnings at $2.27 EPS.
Several other equities research analysts have also issued reports on the company. Craig Hallum raised their price objective on Ameresco from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Robert W. Baird boosted their price objective on shares of Ameresco from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Bank of America reduced their target price on shares of Ameresco from $59.00 to $53.00 in a research note on Thursday, May 18th. VNET Group reaffirmed a “maintains” rating on shares of Ameresco in a research note on Thursday, May 18th. Finally, Piper Sandler cut their price target on shares of Ameresco from $66.00 to $64.00 in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.92.
Ameresco Trading Down 1.8 %
AMRC opened at $40.94 on Monday. The stock has a 50-day moving average of $50.03 and a 200 day moving average of $46.93. The company has a current ratio of 1.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.90. Ameresco has a 12 month low of $39.62 and a 12 month high of $76.54. The firm has a market cap of $2.14 billion, a P/E ratio of 41.35, a P/E/G ratio of 0.92 and a beta of 1.33.
Ameresco (NYSE:AMRC – Get Free Report) last issued its earnings results on Monday, July 31st. The utilities provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $327.07 million for the quarter, compared to the consensus estimate of $290.97 million. Ameresco had a return on equity of 6.59% and a net margin of 3.85%. Ameresco’s revenue was down 43.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS.
Insider Buying and Selling
In related news, Director Francis V. Wisneski, Jr. sold 2,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $43.54, for a total transaction of $87,080.00. Following the completion of the transaction, the director now directly owns 11,176 shares in the company, valued at $486,603.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ameresco news, Director Francis V. Wisneski, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $43.54, for a total value of $87,080.00. Following the sale, the director now directly owns 11,176 shares of the company’s stock, valued at $486,603.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Spencer Doran Hole sold 5,000 shares of Ameresco stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $43.54, for a total transaction of $217,700.00. The disclosure for this sale can be found here. Insiders sold 11,163 shares of company stock valued at $499,351 over the last quarter. 41.75% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its holdings in shares of Ameresco by 47.1% during the 1st quarter. KBC Group NV now owns 86,594 shares of the utilities provider’s stock worth $4,262,000 after purchasing an additional 27,737 shares during the last quarter. Inspire Investing LLC raised its holdings in Ameresco by 34.2% in the 1st quarter. Inspire Investing LLC now owns 5,559 shares of the utilities provider’s stock valued at $274,000 after buying an additional 1,417 shares during the period. Stephens Investment Management Group LLC increased its position in shares of Ameresco by 0.8% during the first quarter. Stephens Investment Management Group LLC now owns 793,814 shares of the utilities provider’s stock valued at $39,072,000 after acquiring an additional 6,457 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Ameresco during the 4th quarter worth approximately $3,516,000. Finally, Kayne Anderson Capital Advisors LP raised its position in Ameresco by 17.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 175,690 shares of the utilities provider’s stock valued at $8,647,000 after purchasing an additional 26,445 shares during the period. Hedge funds and other institutional investors own 61.61% 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, and internationally. The company operates through U.S. Regions, U.S. Federal, Canada, and Alternative Fuels segments. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.
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