Zacks: Analysts Expect Argo Group (ARGO) Will Post Quarterly Sales of $462.83 Million

Wall Street analysts expect Argo Group (NASDAQ:ARGO) to announce sales of $462.83 million for the current quarter, Zacks reports. Three analysts have provided estimates for Argo Group’s earnings. The highest sales estimate is $466.20 million and the lowest is $458.80 million. Argo Group posted sales of $433.20 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.8%. The firm is expected to report its next earnings report after the market closes on Monday, November 5th.

On average, analysts expect that Argo Group will report full-year sales of $1.84 billion for the current fiscal year, with estimates ranging from $1.83 billion to $1.84 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.98 billion, with estimates ranging from $1.94 billion to $2.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Argo Group.

Argo Group (NASDAQ:ARGO) last released its quarterly earnings results on Monday, August 6th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.04. The company had revenue of $452.80 million for the quarter, compared to analysts’ expectations of $459.45 million.



A number of brokerages have weighed in on ARGO. Raymond James lowered their price objective on Argo Group from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Friday, October 19th. Boenning Scattergood set a $72.00 price objective on Argo Group and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on Argo Group to $69.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research lowered Argo Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 10th.

Shares of ARGO opened at $62.59 on Wednesday. Argo Group has a twelve month low of $50.53 and a twelve month high of $65.90.

In other Argo Group news, insider Kevin James Rehnberg sold 16,850 shares of Argo Group stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $61.28, for a total value of $1,032,568.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas A. Bradley acquired 2,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was acquired at an average cost of $61.72 per share, for a total transaction of $123,440.00. The disclosure for this purchase can be found here. Insiders sold a total of 54,880 shares of company stock worth $3,439,177 in the last ninety days.

Institutional investors and hedge funds have recently made changes to their positions in the business. Peregrine Capital Management LLC purchased a new stake in shares of Argo Group during the 2nd quarter worth approximately $31,536,000. First National Bank of Omaha purchased a new stake in shares of Argo Group during the 2nd quarter worth approximately $1,328,000. Bank of Montreal Can purchased a new stake in shares of Argo Group during the 2nd quarter worth approximately $3,383,000. Crescent Grove Advisors LLC purchased a new stake in shares of Argo Group during the 2nd quarter worth approximately $1,606,000. Finally, Dubuque Bank & Trust Co. purchased a new stake in shares of Argo Group during the 2nd quarter worth approximately $212,000.

About Argo Group

Argo Group International Holdings Ltd. engages in underwriting property and casualty insurance and reinsurance. The company operates through following segments: Property, Liability, Professional and Specialty. The Property segment includes both property insurance and reinsurance products. The Liability segment includes a broad range of primary and excess casualty products.

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Earnings History and Estimates for Argo Group (NASDAQ:ARGO)

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