Ameresco (NYSE:AMRC) Issues FY24 Earnings Guidance

Ameresco (NYSE:AMRC) issued an update on its FY24 earnings guidance on Thursday morning. 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.

Ameresco Stock Performance

Shares of NYSE:AMRC traded down $5.16 during trading on Friday, reaching $26.48. 1,048,759 shares of the stock were exchanged, compared to its average volume of 405,457. Ameresco has a 12 month low of $17.55 and a 12 month high of $39.68. The stock has a 50-day moving average price of $33.32 and a 200-day moving average price of $30.92. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 1.15. The firm 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.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Ameresco

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the company’s 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 sale, the chief financial officer now owns 1,878 shares in the company, valued at approximately $49,823.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 5,221 shares of company stock worth $140,814. 42.00% of the stock is currently owned by company insiders.

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.