Argan (NYSE:AGX) Releases Quarterly Earnings Results, Beats Estimates By $0.74 EPS

Argan (NYSE:AGX) issued its quarterly earnings data on Thursday. The construction company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.74, Briefing.com reports. Argan had a net margin of 6.11% and a return on equity of 14.80%. The firm had revenue of $257.00 million during the quarter, compared to the consensus estimate of $225.60 million. The business’s revenue was up 56.9% on a year-over-year basis.

Argan Trading Down 0.1 %

Shares of Argan stock traded down $0.16 on Thursday, hitting $148.82. 368,561 shares of the company traded hands, compared to its average volume of 175,932. The company has a market cap of $2.01 billion, a PE ratio of 46.85 and a beta of 0.53. The stock’s 50 day moving average price is $133.38 and its 200-day moving average price is $96.27. Argan has a 52 week low of $39.74 and a 52 week high of $165.33.

Argan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were issued a dividend of $0.375 per share. This is a positive change from Argan’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, October 23rd. This represents a $1.50 dividend on an annualized basis and a yield of 1.01%. Argan’s dividend payout ratio (DPR) is presently 47.17%.

Insider Buying and Selling at Argan

In related news, Director James W. Quinn sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $89.68, for a total value of $896,800.00. Following the completion of the transaction, the director now owns 70,422 shares of the company’s stock, valued at $6,315,444.96. The trade was a 12.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rainer H. Bosselmann sold 4,598 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $131.01, for a total value of $602,383.98. Following the sale, the director now owns 236,745 shares of the company’s stock, valued at $31,015,962.45. This trade represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,703 shares of company stock valued at $4,257,794 in the last ninety days. Corporate insiders own 11.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AGX. StockNews.com downgraded shares of Argan from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and upped their price objective for the stock from $85.00 to $150.00 in a research note on Tuesday.

Argan Company Profile

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.