Roth Capital Comments on Ameresco, Inc.’s Q3 2024 Earnings (NYSE:AMRC)

Ameresco, Inc. (NYSE:AMRC) – Roth Capital issued their Q3 2024 EPS estimates for Ameresco in a research report issued on Tuesday, August 6th. Roth Capital analyst C. Irwin anticipates that the utilities provider will post earnings of $0.43 per share for the quarter. The consensus estimate for Ameresco’s current full-year earnings is $1.36 per share. Roth Capital also issued estimates for Ameresco’s Q4 2024 earnings at $0.69 EPS.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The company had revenue of $437.98 million during the quarter, compared to the consensus estimate of $373.75 million. During the same period in the previous year, the firm posted $0.15 EPS. The business’s quarterly revenue was up 33.9% compared to the same quarter last year.

AMRC has been the topic of a number of other research reports. Truist Financial cut their price target on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Stifel Nicolaus cut their price objective on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. B. Riley raised shares of Ameresco to a “strong-buy” rating in a research report on Tuesday, June 25th. Piper Sandler cut their price objective on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, UBS Group boosted their price objective on shares of Ameresco from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ameresco currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Ameresco Stock Down 7.7 %

AMRC traded down $2.23 during trading on Thursday, reaching $26.72. The company had a trading volume of 316,895 shares, compared to its average volume of 533,152. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.96. Ameresco has a 12 month low of $17.55 and a 12 month high of $51.94. The business’s fifty day moving average price is $31.11 and its 200 day moving average price is $25.98. The company has a market cap of $1.40 billion, a P/E ratio of 24.29, a PEG ratio of 0.86 and a beta of 1.78.

Insider Activity

In other news, CAO Mark Chiplock sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $35.00, for a total value of $105,000.00. Following the sale, the chief accounting officer now directly owns 348 shares in the company, valued at approximately $12,180. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 42.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ameresco

Hedge funds have recently added to or reduced their stakes in the business. Trustees of Princeton University bought a new position in Ameresco during the 4th quarter worth approximately $7,170,000. Rock Point Advisors LLC raised its holdings in Ameresco by 97.8% during the 4th quarter. Rock Point Advisors LLC now owns 255,312 shares of the utilities provider’s stock worth $8,086,000 after purchasing an additional 126,204 shares during the last quarter. Natixis bought a new position in Ameresco during the 1st quarter worth approximately $480,000. Harbor Capital Advisors Inc. raised its holdings in Ameresco by 187.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock worth $1,982,000 after purchasing an additional 44,882 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Ameresco in the 1st quarter valued at $12,065,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.