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

Argan (NYSE:AGXGet Free Report) issued its earnings results on Thursday. The construction company reported $0.58 earnings per share (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 business had revenue of $157.70 million for the quarter, compared to analysts’ expectations of $134.75 million. During the same period in the previous year, the firm posted ($0.05) EPS. The company’s quarterly revenue was up 52.1% on a year-over-year basis.

Argan Trading Up 10.4 %

Argan stock opened at $76.35 on Friday. The company has a market capitalization of $1.01 billion, a P/E ratio of 27.17 and a beta of 0.45. Argan has a 1-year low of $37.37 and a 1-year high of $78.07. The firm’s fifty day simple moving average is $62.66 and its 200-day simple moving average is $52.19.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd were paid a dividend of $0.30 per share. The ex-dividend date was Friday, April 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.57%. Argan’s dividend payout ratio (DPR) is 42.70%.

Analyst Upgrades and Downgrades

AGX has been the topic of a number of research analyst reports. StockNews.com downgraded Argan from a “strong-buy” rating to a “buy” rating in a report on Friday. Lake Street Capital lifted their target price on shares of Argan from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Friday.

Check Out Our Latest Research Report on Argan

Insiders Place Their Bets

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

Institutional Investors Weigh In On Argan

Several hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System acquired a new position in Argan in the 4th quarter valued at approximately $53,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Argan in the fourth quarter valued at $64,000. EntryPoint Capital LLC bought a new position in Argan in the first quarter worth $95,000. Seizert Capital Partners LLC bought a new position in Argan in the fourth quarter worth $280,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Argan by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,656 shares of the construction company’s stock worth $286,000 after buying an additional 539 shares in 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.

Further Reading

Earnings History for Argan (NYSE:AGX)

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