Argan (NYSE:AGX) Announces Earnings Results, Beats Expectations By $0.14 EPS

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

Argan Stock Up 21.4 %

Shares of Argan stock opened at $59.91 on Friday. Argan has a fifty-two week low of $37.37 and a fifty-two week high of $61.79. The firm has a market cap of $798.60 million, a PE ratio of 25.07 and a beta of 0.49. The business’s fifty day moving average is $48.20 and its two-hundred day moving average is $46.52.

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, April 19th. Argan’s dividend payout ratio is presently 50.21%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP lifted its stake in shares of Argan by 390.9% during the 2nd quarter. Quantbot Technologies LP now owns 1,620 shares of the construction company’s stock worth $60,000 after purchasing an additional 1,290 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Argan during the 2nd quarter worth $80,000. PNC Financial Services Group Inc. purchased a new position in shares of Argan during the 1st quarter worth $109,000. Barclays PLC lifted its stake in shares of Argan by 519.2% during the 4th quarter. Barclays PLC now owns 3,517 shares of the construction company’s stock worth $130,000 after purchasing an additional 2,949 shares during the period. Finally, Nebula Research & Development LLC purchased a new position in shares of Argan during the 4th quarter worth $212,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

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.