Analysts Expect Argo Group (NASDAQ:ARGO) Will Post Earnings of $1.11 Per Share

Equities research analysts expect Argo Group (NASDAQ:ARGO) to report earnings of $1.11 per share for the current quarter, according to Zacks. Three analysts have made estimates for Argo Group’s earnings, with the lowest EPS estimate coming in at $1.07 and the highest estimate coming in at $1.15. Argo Group posted earnings per share of $0.95 during the same quarter last year, which indicates a positive year-over-year growth rate of 16.8%. The business is expected to issue its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Argo Group will report full-year earnings of $4.27 per share for the current year, with EPS estimates ranging from $4.20 to $4.40. For the next financial year, analysts expect that the company will report earnings of $4.70 per share, with EPS estimates ranging from $4.60 to $4.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Argo Group.

Argo Group (NASDAQ:ARGO) last released its quarterly earnings results on Monday, April 29th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.30. The firm had revenue of $456.70 million for the quarter, compared to the consensus estimate of $488.65 million.



ARGO has been the subject of a number of recent analyst reports. Boenning Scattergood restated a “buy” rating and set a $74.00 price target on shares of Argo Group in a report on Tuesday, April 30th. Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a report on Thursday. Compass Point upgraded shares of Argo Group from a “neutral” rating to a “buy” rating and set a $68.10 price target for the company in a report on Tuesday, March 19th. Finally, William Blair cut shares of WABCO from an “outperform” rating to a “market perform” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.20.

In related news, insider Kevin James Rehnberg sold 6,442 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $71.08, for a total value of $457,897.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Nealon sold 1,210 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $73.10, for a total transaction of $88,451.00. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. bought a new position in Argo Group in the second quarter valued at approximately $3,066,000. Cortina Asset Management LLC raised its holdings in shares of Argo Group by 26.1% during the second quarter. Cortina Asset Management LLC now owns 257,405 shares of the company’s stock worth $19,061,000 after acquiring an additional 53,298 shares during the period. First Trust Advisors LP raised its holdings in shares of Argo Group by 522.2% during the first quarter. First Trust Advisors LP now owns 53,668 shares of the company’s stock worth $3,792,000 after acquiring an additional 45,042 shares during the period. Marshall Wace LLP acquired a new stake in Argo Group in the 1st quarter valued at $992,000. Finally, Champlain Investment Partners LLC increased its stake in Argo Group by 1.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,580,413 shares of the company’s stock valued at $111,672,000 after buying an additional 27,850 shares during the last quarter.

ARGO stock traded up $0.12 during mid-day trading on Tuesday, reaching $74.43. 74,058 shares of the stock traded hands, compared to its average volume of 129,888. Argo Group has a 52 week low of $58.42 and a 52 week high of $78.57. The stock has a 50-day simple moving average of $73.37.

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, June 6th.

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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