Argan (NYSE:AGX) Releases Earnings Results, Beats Estimates By $0.14 EPS

Argan (NYSE:AGX) released its quarterly earnings data on Thursday. The construction company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14, Briefing.com reports. Argan had a net margin of 5.64% and a return on equity of 11.45%. The company had revenue of $164.55 million during the quarter, compared to analyst estimates of $162.05 million. During the same period last year, the business earned ($0.46) earnings per share. Argan’s revenue was up 38.5% compared to the same quarter last year.

Argan Price Performance

Shares of NYSE:AGX traded up $10.42 during trading on Friday, hitting $59.77. The company’s stock had a trading volume of 557,556 shares, compared to its average volume of 61,499. The company has a 50-day moving average of $48.49 and a 200-day moving average of $46.62. Argan has a 12 month low of $37.37 and a 12 month high of $61.79. The firm has a market cap of $796.73 million, a price-to-earnings ratio of 25.01 and a beta of 0.49.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, April 19th. Argan’s payout ratio is presently 50.21%.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital lifted their price target on shares of Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday.

Institutional Investors Weigh In On Argan

A number of institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP grew its holdings in shares of Argan by 390.9% in the second quarter. Quantbot Technologies LP now owns 1,620 shares of the construction company’s stock valued at $60,000 after purchasing an additional 1,290 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Argan in the second quarter valued at about $80,000. PNC Financial Services Group Inc. bought a new stake in shares of Argan in the first quarter valued at about $109,000. Barclays PLC raised its holdings in Argan by 519.2% in the fourth quarter. Barclays PLC now owns 3,517 shares of the construction company’s stock worth $130,000 after purchasing an additional 2,949 shares in the last quarter. Finally, UBS Group AG raised its holdings in Argan by 38.6% in the third quarter. UBS Group AG now owns 5,052 shares of the construction company’s stock worth $163,000 after purchasing an additional 1,408 shares in the last quarter. 79.43% of the stock is owned by hedge funds and other institutional investors.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.