Argan (NYSE:AGX) Releases Earnings Results, Beats Estimates By $0.06 EPS

Argan (NYSE:AGXGet Free Report) issued its quarterly earnings results on Thursday. The construction company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06, Briefing.com reports. Argan had a return on equity of 13.29% and a net margin of 6.08%. The company had revenue of $157.70 million during the quarter, compared to analyst estimates of $134.75 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up 52.1% compared to the same quarter last year.

Argan Trading Up 10.4 %

Shares of NYSE AGX opened at $76.35 on Friday. The business has a fifty day simple moving average of $62.66 and a 200 day simple moving average of $52.19. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 27.17 and a beta of 0.45. Argan has a one year low of $37.37 and a one year high of $78.07.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 22nd were paid a $0.30 dividend. The ex-dividend date was Friday, April 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.57%. Argan’s payout ratio is 42.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Lake Street Capital upped their price target on Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com lowered Argan from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Get Our Latest Analysis on AGX

Insider Activity at Argan

In other Argan news, Chairman William F. Griffin, Jr. sold 15,000 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $59.99, for a total value of $899,850.00. Following the sale, the chairman now directly owns 14,150 shares in the company, valued at $848,858.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Argan news, Chairman William F. Griffin, Jr. sold 15,000 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $59.99, for a total value of $899,850.00. Following the sale, the chairman now directly owns 14,150 shares in the company, valued at $848,858.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mano S. Koilpillai sold 2,700 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $61.79, for a total value of $166,833.00. Following the completion of the sale, the director now owns 7,608 shares in the company, valued at $470,098.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,606 shares of company stock worth $2,394,182. 11.85% of the stock is owned by corporate insiders.

Institutional Trading of Argan

Several large investors have recently made changes to their positions in the business. Cardinal Capital Management grew its holdings in shares of Argan by 1.0% during the fourth quarter. Cardinal Capital Management now owns 22,904 shares of the construction company’s stock worth $1,072,000 after purchasing an additional 237 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Argan by 3.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,904 shares of the construction company’s stock worth $417,000 after purchasing an additional 282 shares during the last quarter. Watershed Asset Management L.L.C. boosted its holdings in Argan by 7.5% in the fourth quarter. Watershed Asset Management L.L.C. now owns 6,321 shares of the construction company’s stock valued at $296,000 after acquiring an additional 441 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Argan by 10.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,656 shares of the construction company’s stock valued at $286,000 after acquiring an additional 539 shares during the last quarter. Finally, Keene & Associates Inc. boosted its holdings in Argan by 3.5% in the first quarter. Keene & Associates Inc. now owns 18,973 shares of the construction company’s stock valued at $959,000 after acquiring an additional 636 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.

Argan Company Profile

(Get Free Report)

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.

See Also

Earnings History for Argan (NYSE:AGX)

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