On November 20, 2023, Ameresco Inc announced its ambitious plans to construct a groundbreaking battery energy storage system (BESS) called Kifer Energy Storage LLC. This innovative project aims to bolster the local area capacity for electrical system reliability in Silicon Valley Power (SVP). The BESS will have an impressive maximum capacity of up to 200 megawatt-hours (MWh) and will be strategically located adjacent to the existing Kifer Receiving Station within SVP’s service territory.
Ameresco will take the lead in developing, owning, and operating this cutting-edge BESS, while SVP will be responsible for supplying the necessary charging energy. The construction of this remarkable project is set to commence in mid-2024, marking the beginning of a 25-year lease and Energy Storage Agreement with the City of Santa Clara. The primary objective of this initiative is to acquire surplus renewable electricity, integrate renewable energy sources, reduce reliance on gas-fired generation, and effectively mitigate greenhouse gas and criteria air pollutant emissions.
Moreover, this project holds great promise in enhancing SVP’s overall system reliability and significantly advancing the integration of renewable energy sources. SVP, which stands for the not-for-profit electric municipal utility of Santa Clara, California, is dedicated to providing power to approximately 55,000 customers at remarkably affordable rates, ranging from 35 to 56 percent below those of neighboring communities.
As of the latest update on November 20, 2023, AMRC shares experienced a slight decrease of 1.90%, trading at $28.39.
Updated on: 04/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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AMRC Stock Analysis: Steady Performance, Earnings Growth, and Future Projections in 2023
On November 20, 2023, AMRC stock showed a steady performance. The stock opened at $28.52 and fluctuated within a range of $28.43 to $29.70. The trading volume reached 450,044 shares. AMRC has a market capitalization of $1.4 billion. The company’s earnings growth in the last year was 32.22%, but this year’s growth experienced a slight decline of 4.06%. AMRC is projected to achieve a solid earnings growth rate of 25.00% over the next five years. Its revenue growth in the last year was 50.07%. AMRC’s price-to-earnings (P/E) ratio stands at 33.3, the price-to-sales ratio is 1.67, and the price-to-book ratio is 1.64. On November 20, 2023, AMRC’s stock price showed a modest increase of $1.89, or 2.88%. AMRC is scheduled to report its next earnings on February 26, 2024, with analysts forecasting an EPS of $0.89 for this quarter. The company generated an annual revenue of $1.8 billion and a profit of $94.8 million in the previous year, with a net profit margin of 5.20%. AMRC operates in the industrial services sector and is headquartered in Framingham, Massachusetts.
AMRC Stock Shows Positive Performance on November 20, 2023 with Potential for Significant Growth, According to Analysts
AMRC stock had a positive performance on November 20, 2023, based on the information provided by CNN Money. The 12 analysts offering 12-month price forecasts for AMRC have a median target of $40.00, with a high estimate of $59.00 and a low estimate of $29.00. The fact that the median target price is significantly higher than the current price suggests that analysts are optimistic about the future performance of AMRC stock. The high estimate of $59.00 indicates the potential for substantial growth, while the low estimate of $29.00 suggests a more conservative outlook. The current consensus among 14 polled investment analysts is to buy stock in Ameresco Inc. This rating has held steady since November, indicating a consistent positive sentiment towards the company’s stock. In terms of financial performance, Ameresco Inc reported earnings per share of $0.89 for the current quarter, indicating a positive financial performance. Additionally, the company reported sales of $500.7 million for the same period, indicating a strong revenue generation. Investors can expect more information about Ameresco Inc’s financial performance when the company reports its next earnings on February 26. Overall, based on the provided information, AMRC stock had a positive performance on November 20, 2023. The median target price suggests potential for significant growth, while the consensus buy rating indicates positive sentiment among investment analysts. Investors should consider these factors when making investment decisions regarding AMRC stock.