Wall Street brokerages predict that Argo Group (NASDAQ:ARGO) will post earnings per share of $0.49 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Argo Group’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.48. Argo Group reported earnings of ($1.66) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 129.5%. The firm is scheduled to report its next quarterly earnings results after the market closes on Monday, November 5th.
On average, analysts expect that Argo Group will report full year earnings of $3.40 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.50. For the next financial year, analysts forecast that the company will report earnings of $3.97 per share, with EPS estimates ranging from $3.85 to $4.10. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Argo Group.
Argo Group (NASDAQ:ARGO) last released its quarterly earnings results on Monday, August 6th. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.04. The company had revenue of $452.80 million for the quarter, compared to analysts’ expectations of $459.45 million.
Several analysts recently weighed in on ARGO shares. Raymond James decreased their price target on Argo Group from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Friday, October 19th. Boenning Scattergood set a $72.00 price target on Argo Group and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Keefe, Bruyette & Woods increased their price target on Argo Group to $69.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research lowered Argo Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 10th.
NASDAQ:ARGO traded down $0.46 during midday trading on Monday, hitting $61.24. 81,200 shares of the company traded hands, compared to its average volume of 117,830. Argo Group has a 12-month low of $50.53 and a 12-month high of $65.90.
In other Argo Group news, Director Thomas A. Bradley acquired 2,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were bought at an average price of $61.72 per share, with a total value of $123,440.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jay Stanley Bullock sold 12,323 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $63.43, for a total value of $781,647.89. The disclosure for this sale can be found here. Insiders have sold a total of 54,880 shares of company stock worth $3,439,177 in the last 90 days.
A number of institutional investors have recently made changes to their positions in ARGO. Dubuque Bank & Trust Co. bought a new position in Argo Group in the 2nd quarter valued at $212,000. Amalgamated Bank bought a new position in Argo Group in the 2nd quarter valued at $256,000. Boston Advisors LLC bought a new position in Argo Group in the 2nd quarter valued at $272,000. Diversified Trust Co bought a new position in Argo Group in the 2nd quarter valued at $313,000. Finally, First National Bank of Omaha bought a new position in Argo Group in the 2nd quarter valued at $1,328,000.
About Argo Group
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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