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Ameresco (AMRC) Soars 8.5%: Is Further Upside Left in the Stock?
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Ameresco (AMRC - Free Report) shares rallied 8.5% in the last trading session to close at $83.41. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 48.2% gain over the past four weeks.
The latest uptick in Ameresco’s shares can be attributed to its Investor Day, wherein the company highlighted its long-term growth opportunities stemming from cost savings, energy resiliency and carbon footprint reduction.
This energy services company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +28%. Revenues are expected to be $418.6 million, up 66% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Ameresco, the consensus EPS estimate for the quarter has been revised 14.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AMRC going forward to see if this recent jump can turn into more strength down the road.
Ameresco belongs to the Zacks Alternative Energy - Other industry. Another stock from the same industry, Bloom Energy (BE - Free Report) , closed the last trading session 3.9% higher at $24.94. Over the past month, BE has returned 37.4%.
Bloom Energy's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.11. Compared to the company's year-ago EPS, this represents a change of -57.1%. Bloom Energy currently boasts a Zacks Rank of #3 (Hold).
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Ameresco (AMRC) Soars 8.5%: Is Further Upside Left in the Stock?
Ameresco (AMRC - Free Report) shares rallied 8.5% in the last trading session to close at $83.41. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 48.2% gain over the past four weeks.
The latest uptick in Ameresco’s shares can be attributed to its Investor Day, wherein the company highlighted its long-term growth opportunities stemming from cost savings, energy resiliency and carbon footprint reduction.
This energy services company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +28%. Revenues are expected to be $418.6 million, up 66% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Ameresco, the consensus EPS estimate for the quarter has been revised 14.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AMRC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Ameresco belongs to the Zacks Alternative Energy - Other industry. Another stock from the same industry, Bloom Energy (BE - Free Report) , closed the last trading session 3.9% higher at $24.94. Over the past month, BE has returned 37.4%.
Bloom Energy's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.11. Compared to the company's year-ago EPS, this represents a change of -57.1%. Bloom Energy currently boasts a Zacks Rank of #3 (Hold).