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

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

Argan Stock Up 21.4 %

Shares of NYSE:AGX opened at $59.91 on Friday. The stock has a market cap of $798.60 million, a PE ratio of 25.07 and a beta of 0.49. Argan has a 52 week low of $37.37 and a 52 week high of $61.79. The company’s fifty day moving average is $48.20 and its 200 day moving average is $46.52.

Argan Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Argan

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Argan by 0.4% in the 1st quarter. BlackRock Inc. now owns 1,259,175 shares of the construction company’s stock worth $51,110,000 after acquiring an additional 5,487 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Argan by 9.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 763,161 shares of the construction company’s stock valued at $30,976,000 after acquiring an additional 69,059 shares during the period. Vanguard Group Inc. lifted its position in Argan by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 714,009 shares of the construction company’s stock valued at $33,408,000 after acquiring an additional 17,150 shares during the period. State Street Corp lifted its position in Argan by 7.2% during the 1st quarter. State Street Corp now owns 401,622 shares of the construction company’s stock valued at $16,254,000 after acquiring an additional 26,993 shares during the period. Finally, Geode Capital Management LLC lifted its position in Argan by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 260,136 shares of the construction company’s stock valued at $10,252,000 after acquiring an additional 5,061 shares during the period. 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.