Argan (NYSE:AGX) Posts Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Argan (NYSE:AGX) issued its earnings results on Thursday. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34, Briefing.com reports. The firm had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. Argan had a net margin of 6.08% and a return on equity of 13.22%. The firm’s quarterly revenue was up 60.6% compared to the same quarter last year.

Argan Price Performance

Shares of AGX stock opened at $89.97 on Friday. The business has a fifty day moving average of $74.25 and a 200 day moving average of $65.25. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 32.02 and a beta of 0.51. Argan has a 1 year low of $39.74 and a 1 year high of $95.73.

Argan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 23rd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Tuesday, July 23rd. Argan’s dividend payout ratio (DPR) is presently 42.70%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AGX shares. StockNews.com cut shares of Argan from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. Lake Street Capital raised their price objective on Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, June 7th.

Insider Transactions at Argan

In other Argan news, CEO David Hibbert Watson sold 15,134 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $77.79, for a total value of $1,177,273.86. Following the completion of the transaction, the chief executive officer now directly owns 44,348 shares of the company’s stock, valued at $3,449,830.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Argan news, Director Peter W. Getsinger sold 1,405 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $78.36, for a total value of $110,095.80. Following the completion of the sale, the director now directly owns 13,000 shares of the company’s stock, valued at approximately $1,018,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Hibbert Watson sold 15,134 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $77.79, for a total transaction of $1,177,273.86. Following the transaction, the chief executive officer now directly owns 44,348 shares in the company, valued at approximately $3,449,830.92. The disclosure for this sale can be found here. Insiders sold a total of 103,039 shares of company stock worth $7,712,880 over the last three months. 11.85% of the stock is currently owned by insiders.

About Argan

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.