Zacks: Analysts Anticipate Argo Group (ARGO) Will Announce Quarterly Sales of $470.87 Million

Brokerages forecast that Argo Group (NASDAQ:ARGO) will post $470.87 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Argo Group’s earnings, with the highest sales estimate coming in at $472.20 million and the lowest estimate coming in at $469.30 million. Argo Group reported sales of $441.60 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.6%. The company is scheduled to report its next earnings results on Tuesday, February 12th.

According to Zacks, analysts expect that Argo Group will report full-year sales of $1.86 billion for the current financial year, with estimates ranging from $1.85 billion to $1.86 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.99 billion, with estimates ranging from $1.97 billion to $2.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Argo Group.

Argo Group (NASDAQ:ARGO) last posted its earnings results on Monday, November 5th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.19. The firm had revenue of $484.70 million for the quarter, compared to analyst estimates of $462.83 million.

ARGO has been the topic of several recent analyst reports. Boenning Scattergood set a $72.00 price target on shares of Argo Group and gave the company a “buy” rating in a report on Tuesday, November 6th. Raymond James cut their price target on shares of Argo Group from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Friday, October 19th. Zacks Investment Research raised shares of Argo Group from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Argo Group to $69.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th.

Shares of NASDAQ ARGO traded up $0.10 during trading on Friday, reaching $67.32. 1,719 shares of the stock were exchanged, compared to its average volume of 117,453. Argo Group has a twelve month low of $50.53 and a twelve month high of $69.77.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.60%.

In other Argo Group news, Director John R. Power, Jr. sold 5,355 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $63.24, for a total transaction of $338,650.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jay Stanley Bullock sold 12,323 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $63.43, for a total transaction of $781,647.89. The disclosure for this sale can be found here. Insiders have sold 32,445 shares of company stock worth $2,107,389 over the last three months.

Several large investors have recently modified their holdings of ARGO. Amalgamated Bank bought a new position in shares of Argo Group during the second quarter worth about $256,000. Boston Advisors LLC bought a new position in Argo Group in the 2nd quarter valued at about $272,000. Finally, Bank of Montreal Can bought a new position in Argo Group in the 2nd quarter valued at about $3,383,000.

Argo Group Company Profile

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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